In recent announcement, Nasdaq OMX Group Inc. has acquired from BGC Partners Inc its eSpeed platform. The price tag for the purchase is at US$750 million in cash.
With the purchase, the exchange operator would be provided an entry point into one of the largest cash markets in the world today, the electronic fixed income business. It also allows Nasdaq greater exposure into fixed income markets as current market conditions have forced the operator to seek other income streams.
The system operates a fully executable electronic trading central limit order book for US Treasuries. With the system in place, the company expects that its customers would have greater access to a far greater number of trading interests.
Another plan of Nasdaq is to create a market for share trading of unlisted companies that would enter into a joint venture on its trading platform SharesPost Inc.
Join the Conversation