| Wednesday | ||||
Nasdaq announced that in… Nasdaq announced that in the first half of 2020 it welcomed 69 initial public offerings, raising a total of $17.4B, extending its leadership to 26 consecutive quarters. A total of 55 operating companies listed during the first six months of 2020, representing an 85 percent win rate in the U.S. market. In addition to the IPOs, five companies switched from the NYSE to join Nasdaq. Through the first two quarters of 2020, Nasdaq-listed companies raised 77 percent of all IPO proceeds of operating companies, including four of the five largest IPOs by capital raised: Royalty Pharma, Warner Music Group, PPD, and Reynolds Consumer Products. Nasdaq took additional measures to support issuers through the COVID-19 pandemic: Nasdaq-listed companies that were impacted by the pandemic and could not timely file Exchange Act reports were given automatic extensions based on SEC relief; Nasdaq provided temporary relief from the continued listing bid price and market value of publicly held shares requirements through the second quarter and created a temporary exception from the shareholder approval rules; Nasdaq provided unlimited seats at no cost to all existing clients of Nasdaq Boardvantage and Directors Desk to assist governance professionals who need to maximize their time and facilitate meaningful remote interactions with their boards, committees, and leadership teams. Since March, 2,000 new users have been added. | ||||
| Over a week ago | ||||
Nasdaq announced the… Nasdaq announced the election of all nominated directors to the boards of the U.S. exchanges operated by the company, which include The Nasdaq Stock Market LLC, Nasdaq PHLX LLC, Nasdaq BX, Inc., Nasdaq ISE, LLC, Nasdaq MRX, LLC, and Nasdaq GEMX, LLC: Tal Cohen, EVP and Head of North American Markets, Nasdaq; Virgis W. Colbert, Retired EVP, Miller Brewing Co., Senior Advisor, MolsonCoors; Michael Curran, Retired Chairman and CEO, Boston Stock Exchange; David Frear, Senior EVP and CFO, SiriusXM Holdings; Thomas Kloet, Retired CEO and Executive Director, TMX Group Limited; Elizabeth Martin, Global Co-Head of GS Electronic Trading and Futures, and EMEA Execution Services and Equities Systematic Market Making, Goldman Sachs; David Rosato, Senior EVP and CFO, People's United Financial; Andrew Schultz, Head of Strategic Options, Susquehanna International Group; Wendy White, SVP and General Counsel, University of Pennsylvania and Penn Medicine. | ||||
Trout Group co-hosts with… Trout Group co-hosts with Goodwin, Deutsche Bank and NASDAQ, European Biotech Investor Day, a virtual event on June 25. Webcast Link | ||||
Nasdaq has announced the… Nasdaq has announced the launch of the Marketplace Services Platform. The platform provides next-generation marketplace capabilities spanning the transaction lifecycle to facilitate the frictionless exchange of assets, services and information across various types of market ecosystems and machine-to-machine transactions, including, but not limited, to standard financial assets, tokenized assets, credit card receivables, loyalty points, real estate, insurance contracts, gaming and wagering and more. The already established universal marketplace services, which includes matching, risk management and market surveillance, will be accessible on the platform. | ||||
Nasdaq announced… Nasdaq announced additional steps in its continued commitment to diversity and inclusion. Actions from the company will include cash donations to organizations fighting racial injustice and increased investment in the company's internal programs, including professional advancement and talent acquisition, to foster a diverse and inclusive corporate culture. In addition to previous philanthropic donations, Nasdaq will commit $3M for cash donations to organizations providing critical assistance to communities disproportionally impacted by the global health, economic, and social justice crises, including: the Equal Justice Initiative, the NAACP's COVID-19 project, and World Central Kitchen's Restaurants for the People program. The company will amplify its philanthropic contributions by triple-matching employee donations to related community engagement and social justice organizations through the Nasdaq GoodWorks program. This monetary support builds upon the company's previously announced COVID-19 philanthropic relief efforts. Nasdaq will enhance investments in diversity and inclusion efforts across the global workforce, focusing initially on enhancing the company's communication, training, development, professional advancement, and talent acquisition programs. These efforts aim to build upon the company's current programs to foster a diverse and inclusive corporate culture, which allows us to attract, retain, and motivate top talent. The company's GLOBE employee network - one of ten diversity and inclusion internal employee networks within Nasdaq - is engaged with our senior leaders and our People Organization in identifying and prioritizing our efforts. Nasdaq will also pledge to disclose diversity metrics, specifically regarding gender and ethnicity, this year. In honor of Juneteenth, Nasdaq will debut Amplifying Black Voices, a multimedia retrospective featuring works of art and photography documenting Black life across America. Later this summer, Nasdaq will launch a series of Opening and Closing Bell ceremonies to acknowledge frontline and essential workers from across our communities. These heroes - who are predominantly women, people of color, or immigrants - have put themselves at risk to ensure food, supplies, critical care, and other necessities are provided to all of society during this pandemic. Participating organizations include: CDC Foundation, the COVID-19 Solidarity Response Fund, The Migrant Kitchen, and the NAACP. | ||||
Oppenheimer analyst Owen… Oppenheimer analyst Owen Lau raised the firm's price target on Nasdaq to $135 from $120 and keeps an Outperform rating on the shares. The analyst believes Nasdaq's outperformance is driven by its diversified business model, percentage of recurring revenue, essential businesses, and electronification. Lau thinks Nasdaq can maintain or even accelerate outperformance under the theme of reopening the economy, driven by better-than-expected results in the index business, and a faster-than-expected recovery in the listings business. | |
BofA analyst Michael… BofA analyst Michael Carrier says the Holding Foreign Companies Accountable Act, which was passed by the Senate on May 20 and would prohibit securities of a company from being listed on any of the U.S. securities exchanges if the company has failed to comply with the Public Company Accounting Oversight Board's audits for three years in a row, would primary impact Nasdaq (NDAQ) and IntercontinentalExchange (ICE). The analyst says there would also be an impact on equity/options volumes, which would affect Nasdaq, IntercontinentalExchange and Cboe Global Markets (CBOE), but in aggregate, he expects the overall impact would be minimal. | |
Nasdaq announced it… Nasdaq announced it launched Nasdaq Basic Canada-a feed that provides investors around the globe with access to real-time quote and trade data for the full range of Canadian listed equities-on Nasdaq Cloud Data Services, which provides clients access to real-time equities, options, news, index, and fund data through cloud-based technology. Nasdaq Basic Canada combines data from Nasdaq CXC, CX2 and CXD trading books for all TSX, TSX Venture and CSE listed securities at up to 60% cost savings as compared to other marketplaces. This launch is the latest milestone in Nasdaq's commitment to provide the general investing public with easy, cost-effective price discovery for key equity markets in Canada. With Nasdaq Basic Canada, investors can feel confident they're accessing the same level of accuracy, liquidity, coverage and accessibility at a significant cost-savings. | |
Nasdaq (NDAQ) has… Nasdaq (NDAQ) has overtaken the NYSE (ICE) in IPOs this year as the coronavirus pandemic has curtailed activity and reined in celebrations of corporate debuts on the NYSE's trading floor, The Wall Street Journal's Alexander Osipovich and Corrie Driebusch report. According to Dealogic data, companies going public in 2020 have raised $12.2B in IPOs at Nasdaq, compared with $10.9B at the NYSE. Reference Link |
| Over a month ago | ||||
Nasdaq announced that its… Nasdaq announced that its investment arm, Nasdaq Ventures, has taken a minority stake in the UK-based financial crime investigation automation company Caspian. In addition, Nasdaq's Market Technology business has forged a partnership with Caspian to support the growth of the business within the Financial Crime business verticals. With this additional funding, Caspian, an industry leader in automated AML investigation technology, will accelerate its product expansion and scale of its award-winning platform, AML Investigator. Nasdaq's leading position in financial crime will accelerate Caspian's go-to-market, with the company's expertise supporting growth at scale. Further, the two companies will look for additional opportunities to synergize R&D efforts to advance developments in combating financial crime in the global financial services industry. The terms of the investment were not disclosed. | ||||