CBSX Completes Acquisition of NSX

The stock exchange subsidiary of the Chicago Board Options Exchange completed its acquisition of the National Stock Exchange at the end of last year.

The deal gives the CBOE Stock Exchange a second license. Both exchanges will continue to operate separately under their current names, but will merge staffs in Chicago and Jersey City, according to a statement from CBSX.

In September, CBSX entered into a definitive agreement to acquire the National Stock Exchange. The tiny exchange was previously owned by a consortium of broker-dealers, including Credit Suisse and Citigroup.

"Completion of this acquisition enables us to offer customers different market structures and routing services," said David Harris, CBSX chief executive and president. "We now look forward to bringing two very talented CBSX and NSX teams together."

Harris is now chairman and chief executive of NSX, replacing CEO Joseph Rizzello.