Web www.software-risk.co.uk

Nasdaq, arch-rival of the NYSE has announced its own buying trip. It is buying long-term target Instinet for $1.9bn.

The deal is the second this week. The NYSE announced going public, via the purchase of Archipelago.

Instinet's electronic exchange, INET, will be combined with Nasdaq's own business. Instinets brokerage - Institutional Broker is to be sold to private equity firm Silver Lake Partners. Securities arm, Lynch, Jones & Ryan, Inc (LJR) is to be sold to The Bank Of New York.

“This transaction will allow NASDAQ to compete more effectively with other U.S. and international market centers by making our technological platform more competitive, which will result in greater cost efficiencies and improved quality of execution in our market - qualities that today’s individual and institutional investors demand," Nasdaq CEO Bob Greifeld.

Electronic trading and consolidation in the world of exchanges are all highlighted in these deals.

Related Articles
SEC Proposes Years Exemption on 404
NASDAQ Completes Shareholder.com
Archipelago Sells Wave
NASDAQ Expands
Bloomberg Options-Trading Launched
Navarre Regains Listing
Citigroup Stirs NYSE and Archipelago
Navarre Delisting

Similar Areas

Finance Items

Banking Items

Mergers and Acquisitions Items

Markets Items

Investing Items

Selected Books

Keywords

Nasdaq

Instinet

Nasdaq and Instinet

stock exchange

stock exchanges

NYSE

Archipelago

Institutional Broker

private equity

Bank Of New York

institutional investors