Nasdaq to buy eSpeed platform for $750 million

By John McCrank (Reuters) - Nasdaq OMX Group Inc agreed to buy electronic Treasuries-trading platform eSpeed from BGC Partners Inc for $750 million in cash, providing the exchange operator an entry into one of the world's largest and most liquid cash markets. The deal gives Nasdaq more exposure to fixed income markets, fitting into the company's strategy of expanding in asset classes beyond stock trading, where volumes have been depressed for years. More than $500 billion in U.S. Treasuries change hands daily. The acquisition helps to diversify Nasdaq's U.S. ...

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