The Nasdaq OMX Group, Inc. announced that it has completed its acquisition of the Boston Stock Exchange.
The firm will use the new platform to launch a second U.S. equities market. The new entity will be renamed Nasdaq OMX BXSM and is expected to launch in the fourth quarter.
As part of this transaction, Nasdaq OMX has acquired a self-regulatory organization license for trading both equities and options. Nasdaq OMX did not acquire an interest in the Boston Options Exchange from the BSE. However, a regulatory services arrangement for the BOX market will remain in place, it noted.
Bob Greifeld, CEO of Nasdaq OMX, said, “2008 has been a pivotal year for The Nasdaq OMX Group given the completion of three exchange acquisitions. These have contributed to our transformation into broader asset classes and our growth across borders and new geographic regions.”
“The completion of The Boston Stock Exchange transaction gives us the ability to offer customers more choices in U.S. equity trading just as we have done with Nasdaq OMX PHLX and The Nasdaq Options Market,” added Greifeld.
Nasdaq OMX Group completes acquisition of Boston Stock Exchange
- By: IE Staff
- August 29, 2008 August 29, 2008
- 15:10