Speed turned down the chance to work for his ex-international team-mate Chris Coleman at Fulham and an offer from Middlesbrough to join Bolton.
"I am delighted to sign a player of Gary's quality," said Bolton boss Sam Allardyce. "He's a very experienced Premiership player."
"Gary was eager to join us and turned down offers from other clubs to become a Bolton player.
"He has great enthusiasm for the game and will add a bit of steel to our midfield."
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