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Tuesday, December 11, 2012

Nasdaq to purchase stake in Dutch derivatives trading venue, (NASDAQ: NDAQ)

NASDAQ OMX Group is buying a 25 percent of Dutch cash equity and equity derivatives trading venue TOM, The Order Machine, with an option to secure a majority stake, the transatlantic exchange operator said late on Monday.The investment in TOM, which has a market share of around 15 percent in single stock options in the Netherlands, fits into Nasdaq's strategy of expanding its derivatives presence across the European market.Nasdaq is set to debut NLX, a London-based futures exchange offering listed derivatives contracts and backed by European clearing house LCH.Clearnet, in the first quarter of next year.Nasdaq said it would act as market operator for TOM, and has signed an eight-year contract with the firm to provide a trading platform in London.

The NASDAQ OMX Group, Inc. (NASDAQ OMX) is a holding company. Shares of NDAQ traded higher by 0.64% or $0.15/share to $23.63. In the past year, the shares have traded as low as $21.03 and as high as $27.34. On average, 1262740 shares of NDAQ exchange hands on a given day and today's volume is recorded at 65735.