Archipelago Holdings, the parent company of US trading platform Archipelago Exchange, is to buy the Pacific Exchange in a deal worth over $50m (€37.3m) to accelerate its entry into the fast-growing options market.

The acquisition will give Archipelago control of the Pacific Exchange's options trading business, a 20% stake in the Options Clearing Corporation, the clearing agency, and will enable it to acquire the exchange's self-regulatory status.