Archipelago and Redibook Merge, Vie for Lion’s Share of Nasdaq
ORGANIZATION AND MANAGEMENT
CHICAGO and JERSEY CITY, N.J.--Archipelago and Redibook announced their intention to merge, creating the largest ECN in terms of market share.
Redibook part-owner and Goldman Sachs subsidiary Spear, Leeds & Kellogg will provide clearing services, Nasdaq connectivity and technology for the ECN portion of the combined entity, says Redibook CEO Larry Leibowitz.
The Redibook matching engine will be run under the Archipelago name until the system migrates over to the Archipelago engine. That will
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