New York Stock Exchange on Wednesday announced it would acquire the National Stock Exchange, which had planned to close on Friday.
Terms were not disclosed.
NSX will continue to operate as a licensed National Market System exchange under Securities and Exchange Commission regulations, NYSE said in a news release.
The acquisition will give NYSE Group a fourth licensed U.S. exchange, with NSX joining NYSE, NYSE MKT and NYSE Arca Equities. NYSE said the National Stock Exchange will continue to operate independently of its other exchanges.
“The NYSE will engage with NSX members, buy-side participants and retail brokerage firms before finalizing operational plans for NSX,” according to the news release.
National Stock Exchange, which was founded in 1885 as the Cincinnati Stock Exchange, became an all-electronic venue in 1995, according to its website. The Chicago Board Options Exchange bought NSX in December 2011 and closed the venue in May 2014, but it reopened in February 2015 after it was purchased by a group of investors called National Stock Exchange Holdings.
NSX has a 0.02% market share of all U.S. equity trading volume, according to data from Bats Global Markets.
The transaction is expected to close in the first quarter, NYSE said, and the financial impact of the deal “will not be material” to NYSE parent Intercontinental Exchange.