The National Association of Securities Dealers, the US regulator, plans to sell up to a third of its stake in Nasdaq, the US stock market it controls, for up to $137.6m (€105.7m). The secondary offering comes as Nasdaq said it expects full-year net profits to be between $9m and $13m.

In a regulatory filing to the Securities and Exchange Commission, Nasdaq said that the NASD will sell up to 14 million shares with an over-allotment option of up to 2.1 million.