Stock Market

Merger Will Create Second-Biggest Stock Exchange

Two rivals of Nasdaq to join forces


In yet another blow to Nasdaq (NDAQ), two of its main rivals– BATS and Direct Edge– announced a merger Monday morning that will create the second largest stock exchange by volume.

The exchanges, which will use the BATS name, did not announce the price tag of the deal.

The merger comes shortly after Nasdaq was shaken by major technological troubles. On Thursday, it was forced to shut down trading in all Nasdaq-listed stocks for three hours.