CBOE Stock Exchange to Acquire National Stock Exchange; Terms Not Disclosed

CBOE Stock Exchange announced today that it has entered into a definitive agreement to acquire the National Stock Exchange, Inc. , an all-electronic stock exchange which is owned primarily by several nationally-known broker-dealers. The acquisition will allow CBSX to expand its footprint in the securities exchange space by wholly owning and operating a second exchange. Plans call for CBSX to operate NSX as a separate exchange, while consolidating data systems and business operations. The NSX acquisition, which has been approved by CBSX and NSX boards of directors, is subject to Securities and Exchange Commission (SEC) approval and is expected to be finalized in the fall of 2011. "The acquisition of NSX is an important milestone, marking a new phase of growth at CBSX," CBSX CEO David Harris said. "Economies of scale should enable us to efficiently operate a second exchange and to grow our customer base by providing additional pricing models to the U.S. equities marketplace."