Nasdaq buys Boston Stock Exchange

There has been more consolidation among stock exchanges

The Nasdaq stock exchange has said it is to buy the Boston Stock Exchange for about $61m (£30m), ending 173 years of independence for the latter.

The purchase of the Boston exchange, the third oldest in the US, comes amid a wave of consolidation among stock exchanges around the world.

Recently Nasdaq did a deal with Borse Dubai that will leave the US exchange owning Nordic market operator OMX.

The Boston deal, to be completed next year, requires US regulatory approval.

Nasdaq president and chief executive Bob Greifeld said in a statement the acquisition should give the New York-based exchange "added liquidity, new trading choices and an enhanced competitive market environment".