Business & Investment

Nasdaq partners with major banks to spin out pre-IPO equity trading platform

Nasdaq Co., Ltd. On Tuesday, we partnered with major US banks such as Goldman Sachs and Morgan Stanley to separate a platform that allows us to trade stocks of private companies that are of great interest to investors seeking a high return on investment.

When the coronavirus pandemic began, interest rates were cut to near zero around the world, making investors looking for other sources of yield and making investing in private companies an attractive option.

As part of the transaction Nasdaq Private Market Become an independent and independent company that receives investment from SVB Financial Group, Citigroup Inc, Goldman Sachs Group Inc, and Morgan Stanley, said stock exchange operators on Tuesday.

The financial terms of the venture have not been disclosed.

According to Nasdaq, the platform will manage private sector equity transactions such as tender offers, auctions and investor block trades.

Many companies, including BlackRock Inc and JPMorgan Chase & Co, are seeking to give their clients greater access to investing in private sectors.

BlackRock, the world’s largest asset manager, said in a presentation to investors last month that it was more aggressive in investing in the private market, doubling the industry’s overall growth of 18% last year. Told.

In February, JP Morgan invested in fintech startup Zanbato to increase its presence in private equity trading.

Nasdaq said the Nasdaq Private Market, founded in 2014, will maintain its core operating team and maintain its presence in New York and San Francisco.

Nasdaq partners with major banks to spin out pre-IPO equity trading platform

https://economictimes.indiatimes.com/markets/stocks/news/nasdaq-partners-with-major-banks-to-spin-out-trading-platform-for-pre-ipo-stocks/articleshow/84605386.cms Nasdaq partners with major banks to spin out pre-IPO equity trading platform

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