Nasdaq Charts New Course with Repurposed Tech
Nasdaq, the leading stock exchange operator, is repurposing the technology it developed for its abandoned cryptocurrency custodian business in the US to expand into new emerging markets. The company’s co-president, Tal Cohen, revealed that Nasdaq would launch the technology service instead of pursuing a license for the digital asset business due to regulatory pressures. The move is aimed at attracting more clients to new assets, such as carbon.
Expansion Plans in Carbon Markets
Nasdaq’s decision to repurpose its crypto tech for new markets comes as the company looks to expand into carbon markets. Cohen stated that Nasdaq’s institutional-grade end-to-end technology platform would power not only digital assets but also markets like carbon. The move is part of Nasdaq’s efforts to stay ahead of the curve in emerging markets and provide its clients with a competitive edge.
Nasdaq’s Call to Lawmakers for New York Listings
Tal Cohen, has called on lawmakers to make New York a more attractive destination for listings by UK startups. Cohen cited structural issues in Europe, including tax regimes, onerous regulations, and fragmentation, as major barriers to listing in London. Nasdaq has benefited from UK startups choosing to debut on public markets in New York instead of London, and Cohen’s call to lawmakers is part of the company’s efforts to maintain its market share and attract more clients.
Hot Take: Nasdaq’s New Direction
Nasdaq is adapting its technology to enter new markets, utilizing its institutional-grade platform to accommodate new assets. Additionally, the call for New York listings by UK startups illustrates Nasdaq’s strategic efforts to maintain its market share and attract more clients. This new direction demonstrates Nasdaq’s agility and determination to stay ahead of the curve in the ever-changing financial landscape.
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