Nasdaq OMX Group Inc agreed to purchase the eSpeed platform from BGC Partners Inc for $750 million in cash, providing the exchange operator an entry point in the electronic fixed income business - one of the largest and the most liquid cash markets in the world. eSpeed operates a fully executable central limit order book for electronic trading in U.S. Treasuries.The total consideration for deal is up to $1.23 billion, including an earn-out of up to $484 million of Nasdaq OMX common stock to be paid over 15 years, BGC said.The deal is expected to add to Nasdaq's earnings within the first twelve months after closing, the exchange operator said.
BGC Partners, Inc. (BGC) is a global brokerage company primarily servicing the wholesale financial markets, specializing in the brokering of a range of products, including fixed income securities, interest rate swaps, foreign exchange, equities, equity derivatives, credit derivatives, commercial real estate, property derivatives, commodities, futures and structured products. Shares of BGCP fell by 7.45% or $-0.31/share to $3.85. In the past year, the shares have traded as low as $3.11 and as high as $7.56. On average, 1534680 shares of BGCP exchange hands on a given day and today's volume is recorded at 2888615.
The NASDAQ OMX Group, Inc. (NASDAQ OMX) is a holding company. Shares of NDAQ fell by 0.9% or $-0.29/share to $32.01. In the past year, the shares have traded as low as $21.03 and as high as $32.89. On average, 1437630 shares of NDAQ exchange hands on a given day and today's volume is recorded at 638833.
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