Nasdaq to Acquire International Securities Exchange from Deutsche Börse Group
On Wednesday, NASDAQ said that it will acquire International Securities Exchange, the U. S. options exchange operator from the Deutsche Börse Group. The leading U. S. financial trading company said the transaction will be a combination of cash and debt option. It will give Nasdaq the ownership of three electronic options exchanges namely, ISE, ISE Gemini and ISE Mercury, which were operated by the European company.
According to an announcement from NASDAQ, in combination fifteen percent of the trading in U. S. options takes place through these exchanges.
NASDAQ will gain an added twenty percent stake in The Options Clearing Corporation through this transaction.
As per NASDAQ, the deal is likely to improve its earnings per share within one year after the deal is closed. The American stock exchange said the deal is likely to be completed in the second half of this year subjected to regulatory approvals and customary closing conditions.
After the deal is completed, NASDAQ would control forty percent or more of the market, moving its lead further as the leading U. S options exchange operator.
Bob Greifeld, NASDAQ Chief Executive said in an interview, "The ability to further that lead gives us advantages as to how we could serve our customers because you have a different volume versus scale arrangement."
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