Nasdaq OMX has revealed that during the fourth quarter of 2009 it agreed to raise its stake in the US over-the-counter derivatives exchange Agora X from 20% to 85%.
Nasdaq OMX announced the news on February 8 in a conference call to unveil its financial results. It said the deal, which has yet to be completed, coincided with increased efforts to cater for central clearing of OTC derivatives.
“During the fourth quarter we agreed to increase our ownership interest in Agora-X, a joint venture between Nasdaq OMX and FC Stone that provides electronic trading of OTC commodities, primarily energy derivatives,” said Adena Friedman, chief financial...