Nasdaq Is in Talks to Buy Philadelphia Stock Exchange: WSJ

The Nasdaq Stock Market is in talks to buy the Philadelphia Stock Exchange, the Wall Street Journal reports.

A move to buy the country's third-largest options exchange by contracts traded would give the Nasdaq a sizable foothold in the options business, which is the Philadelphia exchange's forte.

Exchanges like Nasdaq are rushing into the business, in which investors trade the right but not the obligation to buy or sell a security in the future.