Nasdaq To Merge Two Businesses That Probably Shouldn’t Have Been Two Business To Begin With
Its dreamed-for high-frequency trading empire in ruins, Nasdaq is turning elsewhere.
The exchange plans to create a new software unit that combines its market technology and issuer-services businesses, putting chief information officer Anna Ewing in charge. Nasdaq things the new arrangement will earn it an extra $ 500 million a year in revenue.
Plus, you know, it just makes sense.
“We have two software businesses and they should be together and have a comprehensive, strategic rationale,” Nasdaq OMX Chief Executive Robert Greifeld said in an interview.
Nasdaq Seeks to Expand in Software [WSJ]