Ex-Lehman CEO Advises On Deal To Buy National Stock Exchange : WSJ

(RTTNews) - OpenMatch Holdings LLC agreed to buy the 130-year-old National Stock Exchange in a deal in that was advised by former Lehman Brothers Holdings Inc. (LEHMQ.PK) Chief Executive Officer Richard Fuld, the Wall Street Journal reported citing people familiar with the plans.

The Jersey City, N.J.-based NSX, which is part-owned by the CBOE Stock Exchange, closed down at the end of May amid low trading activity.

The CBOE Stock Exchange is owned by CBOE Holdings Inc., (CBOE) the Chicago-based options exchange operator, and several brokerage firms.

Terms of the agreement weren't disclosed, but it would involve a group paying cash and taking over NSX's obligations, which are in the millions, the Journal reported quoting the people. The group is headed by OpenMatch Chief Executive Mark Sulavka.

NSX was valued after it closed down at between $2 million and $5 million.

A new entity called National Stock Exchange Holdings Inc. will be the entity acquiring NSX, the report said.

The NSX was founded in 1885 in Ohio as the Cincinnati Stock Exchange. It was among the first exchanges to shut its trading floor and become fully electronic in 1980. It moved to Chicago and renamed itself the National Stock Exchange in 2003, before moving to Jersey City in 2007.