Boston Stock Exchange And Its Key Assets To Be Acquired By NASDAQ® - A Boston Institution Becomes Part Of Nation’s Largest Equities Exchange

The Boston Stock Exchange (BSE) today announced that it has entered into a definitive agreement to be acquired by The Nasdaq® Stock Market Inc. (NASDAQ: NDAQ) in a transaction that is subject to approval by its members and by the US Securities and Exchange Commission.

Included in the sale is the Boston Stock Exchange and its key assets: The BSE’s holding company (BSE Group), the Boston Equities Exchange (BeX), Boston Stock Exchange Clearing Corporation (BSECC), and BSE’s regulatory authority over the Boston Options Exchange (BOXR). NASDAQ’s acquisition of the BSE Group is valued at approximately $61 million.

BSE’s minority investment in the Boston Options Exchange is not included in the transaction with NASDAQ as BSE is currently in negotiations with the Montreal Exchange to sell its BOX units. NASDAQ, through BOXR, will operate the regulatory services provider to BOX, which is an options trading facility of the BSE.

“Though it is a sad moment for the BSE and its 173 year heritage of innovation and service to the US markets, we are not immune to the global consolidation that is occurring in this industry,” said Michael J. Curran, chairman and chief executive officer. “We believe our sale to NASDAQ is a favorable outcome for our seat holders and we are proud to become part of the NASDAQ Stock Market and its own tradition of innovation and service.”