Nasdaq to Buy ESpeed Platform From BGC for 750 Million Dollar

Nasdaq OMX Group Inc. (NDAQ) in the month of March 2013 announced that it will buy eSpeed, the electronic trading system for U.S. Treasuries, from BGC Partners Inc. (BGCP) for about 750 million dollars in cash.
The deal is supposed to give the second-largest U.S. stock market a grip in fixed income.
In exchange for eSpeed, which operates a fully executable central limit order book for electronic trading of U.S. Treasuries, Nasdaq  apart from paying BGC 750 million dollars in cash also agreed for certain contingent issuances of stock that BGC values at up to 484 million dollars over 15 years.
• BGC shares rose 37 percent in trading after the market closed.
• Nasdaq will also issue about 15 million common shares over 15 years as part of the acquisition, pushing the potential value of the transaction to 1.23 billion Dollars.

About NASDAQ

NASDAQ is an American stock market which originally stood for National Association of Securities Dealers Automated Quotations. It is the second-largest stock market comparing to official stock exchanges by market capitalization in the world, after the New York Stock Exchange. The NASDAQ exchange platform is owned by NASDAQ OMX Group, which also owns the OMX stock market network.