Report: Nasdaq, Philly exchange in talks
|
| Posted
:
Wed, 11 Apr 2007 00:52:00 GMT |
| By
:
Business News Editor |
| Category
:
US (Business) |
| News Alerts by
Email ( click
here ) |
|
|
|
|
|
NEW YORK, April 10 Nasdaq Stock Market Inc. is in talks to buy the Philadelphia Stock Exchange, a published report said Tuesday night.The move to buy the oldest stock exchange in the United States would give Nasdaq a foothold in the options business, the Philadelphia exchange's strength, The Wall Street Journal reported.Options give investors the right but not the obligation to buy or sell a security in the future.The Philadelphia exchange trades more than 7,000 stocks, 2,400 equity options, 17 index options and multiple currency pairs, such as the euro against the U.S. dollar.A Nasdaq-Philadelphia deal may take several weeks to put together, the Journal said.The Philadelphia exchange, founded in 1790, could be valued at $250 million to $300 million, a relatively low price that the Nasdaq could easily absorb, the newspaper said.The exchanges, talking for months, intensified discussions after Nasdaq failed to buy London Stock Exchange PLC in February, the newspaper said.Nasdaq Chief Executive Robert Greifeld has said he wants Nasdaq to become larger in U.S. options contracts.Nasdaq is the No. 2 U.S. stock market by the value of its listed companies. The Philadelphia exchange is the No. 3 U.S. options exchange by contracts traded.Copyright 2007 by UPI
|
|
|
|
|
|
Related News
US economy grew 2.8 per cent in third quarter - Update
Washington - The US economy grew at an annual rate of 2.8 per cent in the third quarter of this year, according to an updated government estimate Tuesday that confirmed the United States has likely emerged from its deepest recession in decades. The f...
US economy grew 2.8 per cent in third quarter
Washington - The US economy grew at an annual rate of 2.8 per cent in the third quarter of this year, according to an updated government estimate Tuesday, confirming that the world's largest economy has likely emerged from its deepest recession in de...
HP sees 'encouraging signs of recovery,' profit climbs 14 per cent
San Francisco - The world's biggest computer maker Hewlett Packard said Monday that it saw encouraging signs of recovery as its quarterly earnings rose 14 per cent. The Silicon Valley company said it earned 2.4 billion dollars in the quarter, up fr...
US stocks gain on surprise home sales recovery
New York - US stocks surged Monday after the release of some surprisingly buoyant data on home sales. Existing home sales surged to 6.1 million units in October, the highest annualized rate since February 2007 and up 10.1 per cent from September, acc...
Report: Microsoft and News Corp in search pact talks
San Francisco - Microsoft and News Corp are in advanced negotiations that would see the media conglomerate's content removed from Google's search index and appear exclusively via Microsoft's Bing search engine, the Financial Times reported Monday. Ne...
US home sales surge to highest level since 2007
Washington - Existing home sales surged more than 10 per cent in the United States in October to their highest level since February 2007, according to figures released Monday. The monthly data by the National Association of Realtors (NAR) beat expect...
US economists: 'Jobless' recovery to reach bottom at start of 2010
Washington - The US economy will start adding jobs some time in the first quarter of 2010, ending a so-called jobless recovery that has plagued the world's largest economy since the summer months, according to a survey released Monday. But the Nati...
|
|
|
|
|
|
|
|
