Archipelago has a history with the Pacific Exchange.
The Pacific Exchange is the smallest traditional market in the options trading business.
The Pacific Exchange had an 8.5 percent share.
A deal for the Pacific Exchange would be Archipelago's first acquisition since going public in August.
The Pacific Exchange was relatively slow to conclude that traders need monetary threats to discourage trading floor capers.
Meanwhile, the Pacific Exchange continues to operate in five San Francisco buildings, which officials say can no longer support the technology and equipment.
And three hours left on the Pacific Exchange," Regan added.
The Pacific Exchange has had financial difficulties in recent years, but it had its most profitable year in 1989.
Her father was until last month the chairman and chief executive of the Pacific Exchange in San Francisco.
Since then, it has made a number of transactions, including a deal for the Pacific Exchange.