Nasdaq OMX to Acquire eSpeed Platform from BGC

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Nasdaq is gaining a foothold in the electronic fixed-income market with eSpeed.

The platform operates a fully executable central limit order book (CLOB), and upon completion will become a part of Nasdaq OMX Transaction Services. The exchange group expects the transaction to close by mid-2013, subject to regulatory approval.

"We are building a diverse, customer-centric portfolio of corporate, trading, technology and information solutions," says Bob Greifeld, CEO at Nasdaq OMX. "We view the eSpeed platform as a compelling extension of Nasdaq OMX's strategic direction as eSpeed is a major player in the US Treasury market, has derivative-industry margins, 70 percent of its revenue is derived from fixed contracts and it has a long-standing presence on trading desks around the world."

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