Friday, The Nasdaq OMX Group Inc. (NDAQ) said it has completed the acquisition of the Boston Stock Exchange or BSE. The new platform, which would be renamed Nasdaq OMX BXSM, would be used to launch a second U.S. equities market in the fourth quarter.
The acquisition brings Nasdaq's year-to-date acquisitions to three exchanges, the two other being the Philadelphia Stock Exchange and the OMX Nordic Exchange.
As part of the transaction, Nasdaq acquired a Self-Regulatory Organization license for trading both equities and options, but did not acquire an interest in the Boston Options Exchange from the BSE.
Nasdaq said it would continue to leverage its INET trading system, which runs the largest U.S. equities exchange, for the Nasdaq OMX BX trading platform.
Following the acquisition, Nasdaq OMX BX will be part of Nasdaq OMX Transaction Services business. The stock exchange appointed BSE Chairman and CEO Michael Curran to the Board of Directors for The Nasdaq Stock Market LLC, Nasdaq OMX PHLX, and Nasdaq OMX BX.
NDAQ is currently trading down 1.57% at $32.65 on the Nasdaq.
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