Nasdaq Acquires an Attractive Brut
NEWS ANALYSIS
NEW YORK—In a move that will have a major impact on the electronic trading landscape, Nasdaq announced that it intends to purchase the Brut ECN business unit from SunGard Data Systems for a cash transaction of $190 million, dependent upon regulatory approval.
The move, according to Nasdaq’s president Robert Greifeld, is designed to augment the struggling electronic market’s capabilities. "In addition to generating incremental revenue, the transaction complements our strategy to provide a lower
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