* Deal expected to close in first quarter 2016
* Nasdaq says deal will be earnings accretive
TORONTO, Dec 8 (Reuters) - Nasdaq said it would acquire the
Canadian unit of alternative equities trading platform Chi-X
Global Holdings in a deal giving it direct access to the
Canadian equities market.
Nasdaq said the purchase of Chi-X Canada would be accretive
to its earnings, excluding transaction-related costs, and
deliver attractive returns on capital. The deal, announced on
Tuesday, is expected to close in the first quarter of 2016.
Financial terms were not disclosed. Bloomberg reported in
November that the deal would value Chi-X Canada at about $100
million. ID:nL3N1385NY
Nasdaq is looking to diversify its business, moving into new
markets and countries. It said the acquisition would expand its
North American equities trading business beyond the U.S. and
improve the trading experience for customers.
"This acquisition is an important part of our North American
strategy as Chi-X handles about 22 percent of the order flow of
S&P/TSX Composite securities in Canada," said Nasdaq President
Hans-Ole Jochumsen.
Nasdaq said Dan Kessous, Chi-X Canada CEO, would continue to
lead the Canadian equities trading business and the Chi-X Canada
team would join Nasdaq.