New York-based Nasdaq OMX Group on Monday announced the completion of its acquisition of Chi-X Canada, an alternative trading system for Toronto Stock Exchange (TSX) and TSX Venture listed securities, from Chi-X Global.
Nasdaq first announced its intent to acquire Chi-X Canada on Dec. 8, 2015.
“By leveraging our own core competencies in exchange operation, technology and product development, Nasdaq aims to bring unique value to the Canadian market with this acquisition,” Nasdaq says in a statement on its website. “We look forward to collaborating with Chi-X Canada to make this transition as seamless as possible, and ultimately expand the market for Canadian equities, derivatives trading and ETP listings.”
The terms of the transaction have not been announced.
Nasdaq adds that expects the acquisition to be immediately accretive to earnings, excluding transaction-related costs. It also says that deal will not have a material impact on its financial leverage or capital return strategy.