Nasdaq buys Instinet electronic trading arm
An AP newswire story on MSNBC provides some insight into the NASDAQ-Instinet deal:
"The Nasdaq Stock Market Inc. is purchasing Instinet Group Inc.’s electronic trading network for $934.5 million, a move designed to improve Nasdaq’s position as competition grows among the world’s stock markets. The long-rumored announcement Friday came two days after the New York Stock Exchange said it would merge with Archipelago Holdings Inc., operator of the ArcaEx electronic trading market, a surprise move that boosts the NYSE’s electronic trading offerings and increases its competitiveness against Nasdaq and other markets."
posted by Fergie @ 4/22/2005 03:51:00 PM
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