The Wall Street Journal, citing people familiar with the matter, reported that Nasdaq was in talks with banks including Bank of America Corp. to line up financing for a bid that could include up to $5 billion in debt. The proposal could come within 48 hours.
Nasdaq is counting on the Atlanta-based derivatives market Intercontinental Exchange Inc. to purchase the parts of NYSE's parent — NYSE Euronext — that Nasdaq can't afford.
Deutsche Boerse, the owner of the Frankfurt stock exchange, has said it will buy NYSE Euronext for about $10 billion
Top New York News Photos of 2011
Nasdaq OMX Group Inc. and InterContinental Exchange declined comment.