NEW YORK: The Nasdaq Stock Market Inc and a consortium of investors on Friday agreed to purchase Instinet Group Inc for US$1.88bil cash in a move that will intensify the already heated rivalry between the New York Stock Exchange and Nasdaq.
The deal underscores the rapidly evolving securities trading industry, and how fierce competition – combined with recent changes to securities laws – has become the impetus for consolidation among industry participants.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
