Jefferies Group Inc's lawsuit against a clearinghouse majority-owned by Nasdaq OMX Group Inc does not affect Nasdaq's commitment to the clearinghouse or its business prospects, Nasdaq's chief executive officer said on Wednesday. Jefferies filed the suit last month to recover tens of millions of dollars of alleged losses from being fraudulently induced to enter interest rate swap futures contracts on the clearinghouse, run by International Derivatives Clearing Group, in which Nasdaq has the majority stake.IDCG and Nasdaq were named in the suit.The suit is "a side issue" that has nothing to do with IDCG's prospects, which will be realized when regulation surrounding the clearing of over-the-counter swaps becomes more defined, Nasdaq CEO Robert Greifeld said on a conference call with analysts and reporters."We remain committed to IDCG," he said.
Jefferies Group, Inc. and its subsidiaries operate as securities and investment banking firm. Shares of JEF remained unchanged at $12.76. In the past year, the shares have traded as low as $11.00 and as high as $27.12. On average, 2408490 shares of JEF exchange hands on a given day and today's volume is recorded at 0.
The NASDAQ OMX Group, Inc. is a holding company. The Company is a global exchange group that delivers trading, clearing, exchange technology, securities listing, and public company services across six continents. Shares of NDAQ remained unchanged at $24.45. In the past year, the shares have traded as low as $19.10 and as high as $29.71. On average, 2893790 shares of NDAQ exchange hands on a given day and today's volume is recorded at 0.
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