Nasdaq Sees $1.5 Billion of Demand for New Trading Platform

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Nasdaq Sees $1.5 Billion of Demand for New Trading Platform

Bloomberg2021-07-22

(Bloomberg) -- Nasdaq Inc.’s new trading venue for closely held companies has plans to grow quickly and go global, Chief Executive Officer Adena Friedman said Wednesday. The platform could capture $...

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BUBPLE
·2021-07-22
Whoaa
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McWes
·2021-07-22
Thank for the info
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Pd2267
·2021-07-22
?
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- Pd2267:
  yo
  2021-12-10
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- Pd2267:
  gd
  2021-12-08
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- Pd2267:
  yes
  2021-12-03
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Nasdaq announced the joint venture with SVB Financial Group, Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley on Tuesday.\nWe “see a huge opportunity in the private-liquidity landscape,” Friedman said. Companies are looking at staying private longer while finding ways to provide liquidity for investors and employees, she said. The total opportunity has yet to be determined but is “very large.”\nDemand for investing in private companies has grown in recent years along with a boom in novel ways to bring them public, including the use of blank-check firms. Nasdaq said its platform will give closely held companies, brokers and investors the ability to access, manage and execute their stock transactions through a global marketplace, which will in turn increase liquidity.\nNasdaq is considering expanding the joint venture over time with additional banks who can contribute investment dollars to the business, particularly overseas, executives said on a call with analysts earlier Wednesday. The New York-based company is looking to eventually take the platform worldwide, which would require accreditation for institutional investors, they said.\nThe program isn’t yet “a global platform at this point, but it’s certainly something we have on the agenda,” Friedman said on the call.\nNasdaq, which is contributing its Nasdaq Private Market to the joint venture, will remain the largest shareholder of the standalone company after the deal is completed, Friedman said. 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