The world’s largest exchange company Nasdaq OMX Group has unveiled a program to buy back up to $300 million of its outstanding common shares. The New York–based company has also got board approval to buy shares in open market. The acquisition will be financed from its existing cash balances.

The project does not allow Nasdaq OMX to buy any particular amount of common stock. The buyback program will depend on factors such as levels of cash generation from operations, current stock price and market conditions.

Click here for the release from Nasdaq OMX.