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S&P: Nasdaq on CreditWatch negative
Standard & Poor's said it placed its ratings on Nasdaq OMX Group Inc., including the BBB long-term counterparty credit rating, on CreditWatch with negative implications.
S&P also placed its ratings on affiliate Nasdaq OMX Stockholm AB, including its A+/A-1 counterparty credit ratings, on CreditWatch negative.
The CreditWatch action follows Nasdaq's announcement that it agreed to acquire eSpeed from BGC Partners.
"In our opinion, eSpeed should fit better within an exchange company than a broker-dealer and complements Nasdaq OMX's U.S. cash equities and stock options exchanges," S&P credit analyst Charles Rauch said in a news release.
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