Nasdaq revamps business into 3 divisions: market platforms, capital access, anti-financial crime

Rick Steves

The new corporate structure will take effect by the end of the Fourth Quarter 2022 with corresponding executive appointments taking effect on January 1, 2023.

Nasdaq has reorganized its business units into three divisions – Market Platforms, Capital Access Platforms, and Anti-Financial Crime – in order to align the company more closely to the foundational shifts driving the global financial system and evolving client needs.

Adena Friedman, President & CEO of Nasdaq, said: “The financial system is being transformed by the modernization of markets, corporate and investor focus on long-term value creation, and the growing importance of protecting the system’s integrity. The value created by our strategy over the past five years has given us the confidence to accelerate our efforts in our major growth areas through this new corporate structure, with our ultimate goal to become the trusted fabric of the financial system.”

Nasdaq will push cloud and blockchain on market platforms division

Market Platforms will include Nasdaq’s North American and European Market Services, Market Infrastructure Technology, as well as two new growth pillars: Digital Assets and Carbon Markets.

Nasdaq powers more than 130 of the world’s market infrastructure organizations in over 50 countries with end-to-end technology solutions and is the largest market in U.S. equities and has the number one share in Nordic equities and U.S. equity options.

The firm will push innovative technologies, including cloud and blockchain, present significant potential opportunities to further enhance market resiliency and scalability, make markets even more accessible to market participants, and open doors to new asset classes.

Tal Cohen, currently serving as Executive Vice President and Head of North American Markets, will lead the division as President of Market Platforms.

Capital Access Platforms caters to investment management ecosystem

Nasdaq’s Corporate Platforms and Investment Intelligence businesses will merge into Capital Access Platforms, with over 10,000 corporate clients and 5,000 clients across the investment management ecosystem.

With leading core businesses in index, data, and listings, Capital Access Platforms will help clients modernize workflows, navigate the climate and ESG landscape, and deliver even more holistic, actionable insights and intelligence.

Nelson Griggs will lead the division as President of Capital Access Platforms and will continue his role as President of the Nasdaq Stock Exchange.

Jamie King will remain at the helm of Anti-Financial Crime

Anti-Financial Crime will include fraud detection and anti-money laundering solution Verafin, which serves over 2,200 banks and credit unions, as well as Nasdaq’s market and trade surveillance products serving over 200 brokerage firms, regulators, and exchanges.

The division will focus on delivering a world-class platform with holistic solutions and capabilities to support financial institutions in fighting financial crime more effectively across their networks and the wider financial system. Jamie King will continue to lead the Anti-Financial Crime division at Nasdaq.

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