The Nasdaq Stock Market is a front-runner in buying the Philadelphia Stock Exchange, a person familiar with the matter said yesterday, Reuters reports.
Other interested bidders include Nasdaq, according to Reuters, include Goldman Sachs Group Inc., Profile, Susquehanna International Group and NYSE Euronex. PHLX, as the oldest U.S. securities exchange is known. But a deal is not yet certain for the oldest U.S. securities exchange.
The privately owned Philadelphia exchange trades stocks, options and currencies, but its recent growth has been driven by its options business. PHLX is the No. 3 U.S. options exchange, with about 15 percent of the market, Reuters says. The exchange expects to earn between $20 million to $25 million in profit this year, according to Chief Executive Sandy Frucher in May.