Nasdaq has developed a new corporate structure which will see its business organised into three new divisions: Market Platforms, Capital Access Platforms and Anti-Financial Crime.
The company stated that the move will align itself more closely to the foundational shifts that are driving the evolution of the global financial system and evolving client needs.
“The financial system is being transformed by the modernisation of markets, corporate and investor focus on long-term value creation, and the growing importance of protecting the system’s integrity,” said Adena Friedman, president and chief executive of Nasdaq.
“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.”
The Market Platforms division will include Nasdaq’s North American and European market services, market infrastructure technology, and two new growth pillars: digital assets and carbon markets.
The division will be led by Tal Cohen as president of Market Platforms. Cohen currently serves as executive vice president and head of North American markets, responsible for Nasdaq’s equities, options and surrounding systems in the US and Canada.
The Capital Access Platforms division will combine Nasdaq’s corporate platforms and investment intelligence businesses. According to Nasdaq, Capital Access Platforms will act as a bridge between investors and corporates to help clients navigate the increasing complexity of the evolving financial system.
Nelson Griggs will lead the division as president of Capital Access Platforms while maintaining his role as President of the Nasdaq Stock Exchange. He currently operates as executive vice president of Nasdaq’s corporate platforms business, overseeing listings and corporate solutions.
Elsewhere, Nasdaq’s new Anti-Financial Crime division will include its fraud detection and anti-money laundering solution, Verafin, as well as the firm’s market and trade surveillance products. Nasdaq stated that the division will help protect the integrity of the financial system and fight financial crime.
Jamie King, will lead the Anti-Financial Crime division at Nasdaq as executive vice president.
Nasdaq’s new corporate structure will take effect before the end of Q4 this year and its corresponding executive appointments will take effect of 1 January next year.