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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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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.