Nasdaq and Philadelphia Stock Exchange (PHLX) appear to be
moving closer to a tie-up, a move that would provide Nasdaq
with a significant share of the US equity options business.
PHLX, which ranks third in options maketshare be-hind
Chicago Board Options Exchange (CBOE) and International
Securities Exchange (ISE), has been on the selling block for
more than a year. Nasdaq announced its plan to become the
seventh exchange to offer equity options in the US by the third
quarter this year last September (see FO Week Vol 11
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