Nasdaq unveils new corporate structure
Nasdaq, Inc. (NASDAQ:NDAQ) today announced that it is organizing its business units into three divisions: Market Platforms, Capital Access Platforms, and Anti-Financial Crime. This new structure will align the company more closely to the foundational shifts that are driving the evolution of the global financial system and evolving client needs.
- Market Platforms
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.
Market Platforms aims to be at the forefront of the financial system’s evolution and will play a critical role in advancing the modernization of markets. 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 will lead the division as President of Market Platforms. Cohen currently serves as Executive Vice President and Head of North American Markets and is responsible for the company’s equities, options, and surrounding systems in Nasdaq’s U.S. and Canadian businesses.
- Capital Access Platforms
Capital Access Platforms will combine Nasdaq’s Corporate Platforms and Investment Intelligence businesses. With over 10,000 corporate clients and 5,000 clients across the investment management ecosystem, Nasdaq is the world’s leading franchise serving the corporate issuer and investment community.
Nelson Griggs will lead the division as President of Capital Access Platforms and will continue his role as President of the Nasdaq Stock Exchange. Griggs currently serves as Executive Vice President of Nasdaq’s Corporate Platforms business and is responsible for listings and corporate solutions.
- Anti-Financial Crime
Anti-Financial Crime will include Verafin, Nasdaq’s fraud detection and anti-money laundering solution, which serves over 2,200 banks and credit unions, as well as Nasdaq’s world-leading market and trade surveillance products serving over 200 brokerage firms, regulators, and exchanges. This division will help protect the integrity of the financial system and fight financial crime.
Anti-financial crime technology represents an already large and fast-growing sector with structural and regulatory tailwinds. Financial institutions face significant challenges in detecting and preventing financial crime and, therefore, are investing significant capital and resources in combatting an ever-increasing threat to the integrity of the global financial system.
Nasdaq’s anti-financial crime 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, Executive Vice President, will continue to lead the Anti-Financial Crime division at Nasdaq.
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.