PHLX Buy Broadens Nasdaq Options
Nasdaq will pay $652 million in cash for complete ownership of PHLX, including its options, equities, futures and clearing business units, officials add.
"The [purchase] really fits within the context of the others we have done," says Bob Greifeld, Nasdaq's president and CEO.
The New York-based electronic exchange will continue to operate PHLX's electronic options platform alongside its own proprietary system to be launched Dec. 7, Nasdaq officials say.
"The technology at the Philadelphia exchange
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