Nasdaq (NDAQ)

The company’s marketplace business supports trading across listed equities and other instruments, while its listings franchise serves public companies that choose Nasdaq as their primary exchange. Nasdaq is particularly associated with technology and growth companies, although its issuer base spans many sectors and market capitalisations. The exchange brand also underpins a widely followed family of indexes, including benchmarks used by asset managers, exchange-traded funds, and institutional investors.

Beyond trading, Nasdaq generates significant revenue from market data, investment intelligence, and corporate services. These offerings help investors analyse securities, manage exposures, and access information tied to market activity. Its capital access operations provide listing services, investor relations tools, governance support, and related products for companies seeking to engage public markets.

Nasdaq has also expanded deeply into financial technology through acquisitions such as Verafin and Adenza. This part of the business provides software for financial crime detection, regulatory reporting, risk management, and capital markets workflows. The strategy reduces reliance on transaction volumes and positions Nasdaq as a technology partner to banks, brokers, asset managers, exchanges, and regulators. Its business model combines recurring software and data revenue with activity-linked exchange income.