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Brut is an ECN that was acquired by The Nasdaq Stock Market on May 25, 2004. Nasdaq bought it from SunGard in an all-cash transaction for $190 million. At that time, Brut was the second largest ECN.[1]

Brut ECN began trading in May 1998. In April 2000, BRUT expanded into NYSE stocks through access to DOT.[2]


  1. U.S. Regulators Examine Nasdaq Bid for Brut ECN. A-Team Group.
  2. Brut ECN.