Company Snapshot

Investment Thesis

Nasdaq operates equity/derivatives exchanges and a fast-growing financial technology, data, and anti-financial crime business. SaaS analytics and regulatory tech drive recurring revenue beyond trading.

  • Anti-Financial Crime: Verafin and surveillance SaaS deliver double-digit ARR growth.
  • Index Licensing: Nasdaq 100 and thematic indexes generate high-margin fees.
  • Capital Access: Global listings franchise remains a gateway for innovators.

Strategic Mix

Market Platforms Trading, clearing, and market services
Capital Access Platforms Listings, investor relations, and governance
Financial Technology Risk, regulatory, and anti-financial crime SaaS
Index & Analytics Index licensing and data

Mix follows Nasdaq’s refreshed segment structure.

Recent Performance

MTD TBD
QTD TBD
YTD TBD
5Y TBD

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Strategic Insights

SaaS Transition

Recurring ARR surpasses transactional revenue.

Data Democratization

Cloud-based data delivery expands reach to buy-side clients.

AI & Surveillance

Machine learning improves anomaly detection for AML use cases.

Latest Coverage

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