Tuesday, October 2, 2007

NASDAQ Buys Boston Stock Exchange

by Mondoreb

Here's a type of story we don't often do. However, just as we should try to keep our check books balanced, we should have at least one 'stock exchange story' every three or four months. It shows we're fiscally responsible in an age of ever-expanding consumer debt. Oh, we're so 'the 80's'.
From the BBC:
The Nasdaq stock exchange has said it is to buy the Boston Stock Exchange for about $61m (£30m), ending 173 years of independence for the latter.

The purchase of the Boston exchange, the third oldest in the US, comes amid a wave of consolidation among stock exchanges around the world.
And yes, we know the photo is of the Tokyo Exchange.
Recently Nasdaq did a deal with Borse Dubai that will leave the US exchange owning Nordic market operator OMX.

The Boston deal, to be completed next year, requires US regulatory approval.

Nasdaq president and chief executive Bob Greifeld said in a statement the acquisition should give the New York-based exchange "added liquidity, new trading choices and an enhanced competitive market environment".
We're for the deal because of what we remember from Econ 101: economies of scale and all that.

DBKP.com - Bigger, Better!.

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