Nasdaq Inc
XMUN:NAQ
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Nasdaq Inc
XMUN:NAQ
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Nasdaq Inc
Nasdaq Inc. is best known for running the Nasdaq stock exchange, where companies list their shares and investors trade them. It also sells market data, trading tools, and software used by banks, brokers, asset managers, and listed companies. In simple terms, it sits in the middle of the financial markets and helps prices, trades, and company disclosures move smoothly. The company makes money in a few main ways: fees from listings, charges for market data and analytics, and subscription or usage fees for its technology and surveillance products. Its customers include public companies that want to be listed, financial firms that need trading and market information, and market operators that want software to run exchanges and monitor activity. What makes Nasdaq different is that it is not just a stock exchange. It is also a big seller of financial market technology and data, so it earns from both market activity and recurring software and information services. That gives it a role as both a marketplace and a behind-the-scenes supplier of the tools that financial markets use every day.
Nasdaq Inc. is best known for running the Nasdaq stock exchange, where companies list their shares and investors trade them. It also sells market data, trading tools, and software used by banks, brokers, asset managers, and listed companies. In simple terms, it sits in the middle of the financial markets and helps prices, trades, and company disclosures move smoothly.
The company makes money in a few main ways: fees from listings, charges for market data and analytics, and subscription or usage fees for its technology and surveillance products. Its customers include public companies that want to be listed, financial firms that need trading and market information, and market operators that want software to run exchanges and monitor activity.
What makes Nasdaq different is that it is not just a stock exchange. It is also a big seller of financial market technology and data, so it earns from both market activity and recurring software and information services. That gives it a role as both a marketplace and a behind-the-scenes supplier of the tools that financial markets use every day.
Strong quarter: Nasdaq said Q1 2026 was one of its strongest starts to a year in company history, with net revenue up 13% and diluted EPS up 21%.
FinTech stands out: Financial Technology posted record revenue growth of 18%, supported by strong demand, cloud deals and more than 50% growth in ACV bookings.
AI is everywhere: Management said AI is helping both internal efficiency and customer products, with a goal of $100 million of expense efficiencies by the end of 2027.
Guidance lifted: Nasdaq raised full-year expense guidance after stronger-than-expected revenue, while keeping its tax rate guidance unchanged.
Market structure push: The company is advancing 23/5 trading and tokenized securities, with the first trade for tokenized equities still expected to be an early-phase process by year-end.
Index and data momentum: Data, index and listings all benefited from client demand and innovation, while early Q2 ETP inflows were already strong at $15 billion as of April 20.
Management
Adena T. Friedman is a prominent American business executive known for her leadership role as the President and CEO of Nasdaq, Inc. She was appointed CEO in January 2017, becoming the first woman to lead a major global stock exchange. Before becoming CEO, Friedman held various strategic and financial roles at Nasdaq, including President and Chief Operating Officer, where she was instrumental in expanding the company’s technology solutions and developing its data products. Friedman joined Nasdaq in 1993, initially working in the company's data products division. Over the years, she played a pivotal role in shaping Nasdaq's competitive strategy and leveraging technology to enhance market operations. Her leadership has been marked by a commitment to innovation, with an emphasis on expanding the exchange’s technology and analytics capabilities. Friedman left Nasdaq for a period, serving as the Chief Financial Officer and Managing Director of The Carlyle Group, a global investment firm, before returning to Nasdaq in 2014. She earned her Bachelor’s degree in Political Science from Williams College and an MBA from Vanderbilt University’s Owen Graduate School of Management. Under her leadership, Nasdaq has continued to evolve beyond traditional stock exchange services, focusing on becoming a technology company that serves the global capital markets and beyond. Friedman's vision and leadership are recognized widely, and she has been a vocal advocate for fostering a more inclusive corporate culture.
Friedman joined Nasdaq in 1993, initially working in the company's data products division. Over the years, she played a pivotal role in shaping Nasdaq's competitive strategy and leveraging technology to enhance market operations. Her leadership has been marked by a commitment to innovation, with an emphasis on expanding the exchange’s technology and analytics capabilities.
Friedman left Nasdaq for a period, serving as the Chief Financial Officer and Managing Director of The Carlyle Group, a global investment firm, before returning to Nasdaq in 2014. She earned her Bachelor’s degree in Political Science from Williams College and an MBA from Vanderbilt University’s Owen Graduate School of Management.
Under her leadership, Nasdaq has continued to evolve beyond traditional stock exchange services, focusing on becoming a technology company that serves the global capital markets and beyond. Friedman's vision and leadership are recognized widely, and she has been a vocal advocate for fostering a more inclusive corporate culture.
Tal Cohen serves as the Executive Vice President and Head of North American Markets at Nasdaq Inc. With a prominent career in the financial services industry, he oversees Nasdaq’s U.S. and Canadian equity and options markets. Before joining Nasdaq, Cohen was the CEO of Chi-X Global and an instrumental figure in the growth and development of its trading platforms across multiple international regions. He has also held significant roles at Instinet and Goldman Sachs. Cohen's expertise extends over two decades, with a focus on market structure, trading, and regulatory issues. His educational background includes a Master’s degree from Columbia Business School and a Bachelor’s degree from the University of Toronto. As a leader in North American financial markets, Cohen continues to drive innovation and efficiency in Nasdaq’s operations.
Sarah M. Youngwood is an accomplished financial executive known for her significant contributions to the financial industry. She has been a prominent figure at Nasdaq, Inc., where she plays a key role in strategic financial decision-making and leadership. Before joining Nasdaq, Sarah Youngwood had an extensive career at JPMorgan Chase, one of the world's leading financial institutions. At JPMorgan Chase, she held various senior positions, showcasing her expertise in financial management and strategic planning. Her experience in managing finances for such a major institution provided her with the skills and knowledge necessary to lead in dynamic and complex financial environments. At Nasdaq, Sarah M. Youngwood serves as the Executive Vice President and Chief Financial Officer. In this capacity, she is responsible for overseeing the company's global finance and accounting functions. Her work involves driving financial strategy, ensuring efficient capital allocation, and supporting Nasdaq's growth initiatives. Her leadership is crucial in maintaining Nasdaq's position as a leading global technology company serving the capital markets and other industries. She is known for her strong analytical capabilities and a keen focus on aligning financial operations with overall business objectives. Youngwood's contributions extend beyond traditional finance roles; she is also involved in strategic planning and investor relations, further solidifying Nasdaq's financial integrity and fostering investor confidence. Throughout her career, Sarah M. Youngwood has been recognized for her leadership, strategic vision, and ability to drive financial excellence. Her work continues to influence the financial strategies at Nasdaq and plays a vital role in its ongoing success and innovation in the financial sector.
Before joining Nasdaq, Sarah Youngwood had an extensive career at JPMorgan Chase, one of the world's leading financial institutions. At JPMorgan Chase, she held various senior positions, showcasing her expertise in financial management and strategic planning. Her experience in managing finances for such a major institution provided her with the skills and knowledge necessary to lead in dynamic and complex financial environments.
At Nasdaq, Sarah M. Youngwood serves as the Executive Vice President and Chief Financial Officer. In this capacity, she is responsible for overseeing the company's global finance and accounting functions. Her work involves driving financial strategy, ensuring efficient capital allocation, and supporting Nasdaq's growth initiatives. Her leadership is crucial in maintaining Nasdaq's position as a leading global technology company serving the capital markets and other industries.
She is known for her strong analytical capabilities and a keen focus on aligning financial operations with overall business objectives. Youngwood's contributions extend beyond traditional finance roles; she is also involved in strategic planning and investor relations, further solidifying Nasdaq's financial integrity and fostering investor confidence.
Throughout her career, Sarah M. Youngwood has been recognized for her leadership, strategic vision, and ability to drive financial excellence. Her work continues to influence the financial strategies at Nasdaq and plays a vital role in its ongoing success and innovation in the financial sector.
Brendan Brothers is the co-founder and global vice president of product at Nasdaq Inc. He has over two decades of experience combining advanced digital solutions and innovative strategies to transform Surveillance, Supervision, and Risk Management for Tier 1 global banks and exchanges, regional and national banks, asset managers, and insurers across North America, the United Kingdom, Europe, and APAC. Brendan Brothers has frequently appeared as an expert on Market Watch, CBS, Cheddar, Bloomberg, Finextra, the Globe and Mail, and NASDAQ media. He is also a regular speaker at industry events, including ACAMS, ACFE, SIFMA, TradeTech, and ComRisk.
Brendan Brothers has frequently appeared as an expert on Market Watch, CBS, Cheddar, Bloomberg, Finextra, the Globe and Mail, and NASDAQ media. He is also a regular speaker at industry events, including ACAMS, ACFE, SIFMA, TradeTech, and ComRisk.
Michelle Lynn Daly is a notable executive at Nasdaq, Inc., where she has played a significant role in the company's operations and strategic initiatives. As an accomplished leader, she has contributed her expertise to drive Nasdaq's mission and goals forward. Her professional background includes experience in financial services and technology-driven environments, emphasizing innovation and efficiency. Through her leadership, Daly has helped shape Nasdaq's approach to the dynamic financial markets landscape, ensuring the organization remains at the forefront of industry developments. Her work reflects a commitment to fostering growth, collaboration, and excellence within the company.
Bryan Everard Smith is a distinguished executive known for his leadership at Nasdaq, Inc. He serves as the Executive Vice President and Chief People Officer. In this role, Bryan Smith is responsible for overseeing global human resources functions, which include talent management, employee engagement, diversity and inclusion, and organizational development. His strategic efforts are aimed at fostering a strong company culture and ensuring that Nasdaq attracts and retains top talent. Bryan has an extensive background in human resources and organizational leadership, having held several senior HR roles in various high-profile organizations before joining Nasdaq. His experience spans across multiple industries, allowing him to bring a wide range of expertise to his current position. Throughout his career, he has been recognized for his commitment to building inclusive work environments and implementing innovative HR practices. At Nasdaq, Bryan Smith is part of the executive leadership team, where he collaborates with other senior executives to drive the company's growth and ensure alignment of HR strategies with the overall business objectives. His efforts are crucial in supporting Nasdaq's mission and preparing the workforce to meet future challenges in the financial technology sector.
Bryan has an extensive background in human resources and organizational leadership, having held several senior HR roles in various high-profile organizations before joining Nasdaq. His experience spans across multiple industries, allowing him to bring a wide range of expertise to his current position. Throughout his career, he has been recognized for his commitment to building inclusive work environments and implementing innovative HR practices.
At Nasdaq, Bryan Smith is part of the executive leadership team, where he collaborates with other senior executives to drive the company's growth and ensure alignment of HR strategies with the overall business objectives. His efforts are crucial in supporting Nasdaq's mission and preparing the workforce to meet future challenges in the financial technology sector.
Edward S. Knight served as an executive at Nasdaq Inc., where he held several significant roles. Most notably, he was the Executive Vice President and Global Chief Legal and Policy Officer. In this capacity, Knight was responsible for overseeing Nasdaq's legal, government relations, and regulatory matters globally. He played a crucial role in shaping the legal and policy framework of the company, navigating complex regulatory landscapes, and contributing to Nasdaq's growth and strategic initiatives. Before joining Nasdaq, Edward S. Knight had a distinguished career in both the private and public sectors. He served as the General Counsel of the U.S. Department of the Treasury from 1994 to 1999, where he was involved in a variety of high-stakes legal and policy decisions. Knight's extensive experience in legal and regulatory affairs, along with his leadership at Nasdaq, has made him a respected figure in the financial services industry. He is recognized for his deep understanding of securities law, corporate governance, and regulatory compliance, which have significantly impacted the strategic direction and integrity of Nasdaq as a leading global exchange and technology provider.
Before joining Nasdaq, Edward S. Knight had a distinguished career in both the private and public sectors. He served as the General Counsel of the U.S. Department of the Treasury from 1994 to 1999, where he was involved in a variety of high-stakes legal and policy decisions.
Knight's extensive experience in legal and regulatory affairs, along with his leadership at Nasdaq, has made him a respected figure in the financial services industry. He is recognized for his deep understanding of securities law, corporate governance, and regulatory compliance, which have significantly impacted the strategic direction and integrity of Nasdaq as a leading global exchange and technology provider.
Asaf Homossany is a noted executive affiliated with Nasdaq Inc., serving as the Senior Managing Director for the Europe, Middle East, and Africa (EMEA) region. In this role, he has been instrumental in driving Nasdaq's business development and strategy across diverse markets within the region. Homossany joined Nasdaq with a wealth of experience in global markets and financial services, which has been pivotal in expanding the company's presence and influence in the EMEA zone. His leadership has been marked by fostering new partnerships, enhancing client relationships, and steering initiatives that align with Nasdaq's overall growth objectives. Homossany's contributions extend beyond strategic development to include active participation in industry dialogues, where he advocates for innovation and digital transformation within the financial sector.