Nasdaq OMX Buys Aussie Market Intelligence Provider

Nasdaq OMX Group NDAQ, owner of the second-largest U.S. stock market, said it will acquire Australia's Smarts Group, a privately held provider of market intelligence, for an undislcosed sum. The purchase is expected to close in the third quarter. Nasdaq OMX is looking to diversify its revenue streams due to increased competition for trading revenue in the U.S. and Europe. Nasdaq OMX, which reports second-quarter earnings today, also owns seven Baltic and Nordic exchanges. Smarts sells its technology to exchanges, regulators and brokers, according to Bloomberg News.