Richard Fuld, Jr., the former CEO of Lehman Brothers, is advising a deal to acquire National Stock Exchange, according to Dow Jones.
The 130-year old National Stock Exchange is part-owned by the CBOE Stock Exchanged and is based in Jersey City, N.J.. The firm closed at the end of May with low trading activity.
The wire service originally reported that the acquirer was OpenMatch Holdings, a little-known firm based in New York and headed by former trader Mark Sulavka.
A spokesperson for OpenMatch said only the firm's CEO Sulavka is involved in the deal, which is actually the creation of a new entity called National Stock Exchange Holdings that will acquire the older National Stock Exchange.
Fuld's firm Matrix Advisors is advising the deal and the spokesperson said the former Lehman head will not be actively involved in the management of the company.
Fuld and Sulavka were both working at another firm, Legend Securities, for about a year between 2010 and 2011, FINRA records show.