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- State Street Challenging BNY Mellon As Largest Custody Bank
- Changes to FINRA Advisory Committees: Phase 1
- SEC Approves CAT Fee Dispute Resolution Process
- Boston-Area Consultant & Friend Settle SEC Insider Trading Charges
- SEC Chair Clayton: Statement on Status of the Consolidated Audit Trail ('CAT')
- Goldman to Launch $5bn Fund with China Investment Corp.
- Wells Fargo Launches Robo-Adviser Targeting Millenial Investors
- Barclays Fails to End U.S. 'Dark Pool' Class Action
- Goldman Sachs' Chief Risk Officer, Craig Broderick, to Retire
- Time to Renew FINRA Registrations - B/D, IA, Agent, IA Rep, Branches
- New Jersey’s Next Governor Could Be a Democrat Who Worked at Goldman Sachs
- FINRA New York Region Networking Seminar - December 1st
- SEC Approves “Pay-to-Play” and Related Rules for Capital Acquisition Brokers
- Hedge Fund Giant Paul Singer Targeted for Destruction by Steve Bannon
- Saudi Arabia's arrest of Prince Alwaleed 'would be like arresting Warren Buffett or Bill Gates' in the US
- Arrest of Billionaire Saudi Prince Touches Sizable Stakes - Citigroup, Twitter, Lyft
- New York Fed President William Dudley set to announce retirement
- FINRA Arbitration Panel Rules Against ex-LPL Broker in $30Mn Lawsuit vs. Firm
- OOPS! Goldman, JPMorgan, BofA Fail in Pricing an IPO
- Former Merrill Broker Pleads Guilty to Fee Fraud, Faces Up To 25 Years
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NEWSLETTERS & ALERTS
Nasdaq Diversifies by Acquiring eVestment
Nasdaq Inc., which generates about 75% of its revenue from non-transaction related businesses, announced plans to buy investment analytics firm eVestment Alliance. eVestment, whose clients include Morgan Stanley, Google parent Alphabet and BlackRock, provides cloud-based services to help investors monitor market trends and make investment decisions.
The $705 million transaction is Nasdaq’s second acquisition since Adena Friedman took over as CEO in January. Earlier this summer, the exchange operator acquire Sybentix, which uses artificial intelligence to help compliance officers at asset management firms analyze the behavior of their traders to prevent market abuse.
Nasdaq’s push for diversification is a response to weak trading volumes and increased competition among exchange operators. It also reflects CEO Friedman’s penchant for innovative technologies. Apart from running stock exchanges, Nasdaq runs a large business that sells market technology to trading firms, exchanges and clearing houses around the world.