Boston Stock Exchange Reaches Agreement To Sell Its Entire Ownership Stake In BOX To The Montréal Exchange

The Boston Stock Exchange (BSE) announced today that it has reached an agreement to sell its ownership position in the Boston Options Exchange (BOX) to the Montréal Exchange, subject to regulatory approval.

Under the terms of the agreement with the Montréal Exchange, the BSE will receive approximately $52.5 million in cash for its entire ownership stake in BOX. The transaction is subject to approval by the Securities and Exchange Commission and to other customary closing conditions.

As previously announced by the BSE on October 2, 2007, The Nasdaq Stock Market Inc. (NASDAQ: NDAQ) intends to purchase 100% of the BSE, excluding its ownership interest in BOX. “This Agreement is a win-win for the BSE Members, as it allows for NASDAQ to complete its purchase of the BSE,” said Chairman and CEO Michael J. Curran.

Although the BSE will no longer be an owner of BOX, it will continue to act as the regulatory service provider through its wholly owned subsidiary BOX Regulation (BOXR).