Nasdaq Stock Market Inc. today completed the transactions making it the owner of the electronic trading platform INET. In April, Nasdaq announced it would acquire Instinet Group Inc. and at the same time sell Instinet's institutional broker unit to Silver Lake Partners. "This transaction is a key part of Nasdaq's growth plan to provide the most liquid and efficient market for global equities, and to be the No. 1 market for trading stocks," Nasdaq President and CEO Bob Greifeld said in a news release. Nasdaq expects to make the transition to the INET trading platform within 12 months.
Instinet will now operate as a private entity focused on providing execution services to institutional investors worldwide.