NASDAQ Buys Swedish Stock Exchange - Prepares to enter cryptocurrency

in #cryptocurrency6 years ago


Offer for $ 190 million

The National Association of Securities Dealers Automated Quotes (NASDAQ) has published a $ 190 million public offer this week as the amount it is willing to buy for the Swedish Cinnober Stock Exchange. The American Stock Exchange considers Cinnober to be a major provider of financial technology to brokers, stock exchanges and clearing houses around the world. This acquisition could become NASDAQ's first step and gateway to the world's crypto. Finally, with the idea of the Crypto Exchange, its leaders played in April of this year.

NASDAQ: We are focusing on new market segments

Adena Friedman, CEO of NASDAQ, said:

"Cinnober's combined intellectual capital, technological competence and capabilities will expand the scope and depth of our fastest growing division. Not only global capital markets are evolving rapidly. New markets in different industries require a technology infrastructure that allows rapid growth and access to market integrity tools. These acquisitions accelerate our ability to expand into new segments. "

According to the press release, Cinnober's US stock exchange offered SEK 75 for each share and SEK 85 per option. The offer would thus amount to SEK 1.7 billion (approximately US $ 190 million). Cinnober's board of directors unanimously recommended that they accept this offer.

The founder of Cinnober, Nils-Robert Persson, also said:

"Since its founding in 1998, Cinnober has been on an exciting journey and has become a leading supplier of financial technology for trading worldwide. I consider the NASDAQ offer to be the next step in development because it will enable Cinnober and its talented employees to serve customers more successfully and to expand our technology. As the largest shareholder of Cinnober, I support this offer and I want to accept it. "

conclusion

Nasdaq, according to market capitalization, is the second largest stock exchange in the world. The scene has been around for almost 50 years, and it is interesting that it was the first electronic and automated stock market at the time of its creation. If shareholders agree to the acquisition, the closure of the deal is planned for the fourth quarter of 2018.

Following the integration of Cinnober under NASDAQ, it is therefore possible to expect the first real steps on the part of this US stock market, leading to the launch of the crypto exchange and the commencement of cryptocurrency trading.

Thank you very much for your support!

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