NASDAQ OMX

What NASDAQ OMX does

Nasdaq, Inc. (NASDAQ: NDAQ), operating through the Nasdaq OMX Group, is a global exchange operator and financial technology company that traces its origins to the 1971 founding of the Nasdaq electronic stock market and its 2007 merger with OMX. The company runs eight regulated trading venues across the Nordic and Baltic region—Stockholm, Copenhagen, Helsinki, Iceland, Oslo, Tallinn, Riga, and Vilnius—plus U.S. operations including Nasdaq Texas. Nasdaq Stockholm accounts for over half of Europe's total transaction volume, and the First North Growth Market lists more than 550 growth companies, making Nasdaq the dominant venue operator in its core geographies.

The product portfolio spans listings and trading infrastructure (Nasdaq Nordic Main Market, First North, Nasdaq Texas, European Commodities), market technology and FinTech (Trade Surveillance, AxiomSL, Calypso, Eqlipse, Clearing, Connect), market data and analytics (Market Data Feeds, Data Link, Dorsey Wright, eVestment, Nasdaq-100 Index), governance and sustainability tools (Boardvantage, Metrio, Puro.earth), and private market services (Nasdaq Private Market, Fund Secondaries, Lending). Underlying technology includes proprietary multi-asset exchange infrastructure, real-time depth-of-book data feeds across the U.S., Europe, and Canada, and an emerging tokenized asset stack being built through Talos and Seturion partnerships announced in 2026.

Revenue is generated through a mix of transaction-based Market Services (cash equities and derivatives trading fees), subscription/recurring Solutions and FinTech revenue (including surveillance, risk, regulatory reporting, and post-trade platforms), Index licensing, Data and Listings fees, and Capital Access Platform services. Q1 2026 revenue reached $2.14 billion against a $1.37 billion forecast, with the Solutions segment's medium-term growth outlook raised to 9-12%. Customers include listed issuers (Main Market and First North), institutional and retail investors, exchange members and trading firms, and asset managers using Nasdaq's investment intelligence stack.

Name

NASDAQ OMX

Legal name

Nasdaq, Inc.

Website

https://nasdaqomxnordic.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

101–250 employees

Short description

Nasdaq, Inc. is a global exchange operator and financial technology company running regulated trading venues across the Nordic, Baltic, and U.S. markets, offering listings, market data, FinTech solutions, and emerging tokenized asset infrastructure to public companies, institutional investors, and growth-stage SMEs.

Ownership category

akta.pro rank

Product category

Capital Markets Exchange Operations

NAICS

Securities and Commodity Exchanges (523210), Commodity Contracts Intermediation (52316), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Commodity Contracts Brokers & Dealers (6221), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Primary Listing Stock Exchanges (FSAFAAAA)

akta.pro secondary industries

Institutional Multi-Asset Trading Platforms (OTC/RFQ) (FSAFAEAB), Multi-Asset Alternative Trading Systems (ATS) / Multilateral Trading Facilities (MTF) (FSAFAEAC)

Keywords

• Exchange trading services
• Equity listing services
• Market data feeds
• Trade surveillance technology
• Clearing and settlement

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Market Services: Revenue from transaction fees on cash equities and derivatives trading across Nasdaq's trading venues. Strong cash equities performance drives market services revenue with expected moderation going forward.
2. Solutions and FinTech: Technology solutions revenue including trade surveillance, risk management, regulatory reporting, and post-trade processing platforms. Solutions revenue growth outlook raised to 9-12% medium-term from 8-11%, with organic solutions growth of 11.2% and FinTech annual recurring revenue growth of 13.8% year-over-year.
3. Index Revenue: Revenue from index licensing and data services. Estimates slightly reduced by 2% due to weaker asset under management growth and derivatives activity.
4. Data & Listings: Market data feeds providing real-time quotes, trades, and depth-of-book data; listing fees from companies going public on Nasdaq venues
5. Workflow & Insights: Workflow automation and analytics solutions including sustainability solutions for ESG reporting, with reduced outlook due to slowdown in sustainability solutions demand
6. Capital Access Platform: IPO execution, listings services, and private market solutions for companies seeking public markets access

Go-to-market motion1 record

Distribution channels8 records

Marketing channels10 records

Core offering

Nasdaq operates regulated stock exchanges across the Nordic and Baltic regions (Stockholm, Copenhagen, Helsinki, Iceland, Oslo, Tallinn, Riga, Vilnius) providing trading venues for equities, derivatives, fixed income, commodities, and ETPs. The company also offers listing and IPO services, multi-asset clearing, proprietary market data feeds, and FinTech solutions including trade surveillance, regulatory reporting, risk management, governance, and sustainability platforms.

Product overview

Nasdaq operates as a diversified financial technology company offering a platform-plus-modules architecture. The core offering includes trading and market services across North American and European markets (Nasdaq Nordic, Nasdaq European Markets, First North Growth Market, Main Market), financial technology solutions (Nasdaq Trade Surveillance, Nasdaq AxiomSL, Nasdaq Calypso, Nasdaq Eqlipse), investment intelligence (Nasdaq Data Link, Nasdaq Dorsey Wright, Nasdaq eVestment), governance tools (Nasdaq Boardvantage, Board Evaluations), sustainability solutions (Nasdaq Metrio, Puro.earth), and market data products (Nasdaq Market Data Feeds). These products work together to provide end-to-end market infrastructure from listings and trading through post-trade services and regulatory compliance.

Differentiator

Problem solved

Functional benefit

Products and services

• Nasdaq Nordic Main Market Regulated market designed for companies that meet the highest standards of transparency, governance, and performance, covering Nordic main listings on Nasdaq Stockholm, Copenhagen, Helsinki, Iceland, and Oslo.
• First North Growth Market Premier marketplace for European SMEs supporting company growth and scalability, currently listing over 550 growth companies across Nordic and Baltic markets.
• Nasdaq Trade Surveillance Financial technology solution for surveillance and monitoring of trading activities across markets, used by exchanges and trading firms for market abuse and compliance monitoring.
• Nasdaq AxiomSL Financial technology platform for regulatory reporting and risk management, used by financial institutions to meet global regulatory requirements.
• Nasdaq Calypso Financial technology platform for derivatives trading and post-trade processing, supporting treasury and capital markets functions.
• Nasdaq Eqlipse Financial technology platform for market participants supporting trading and market infrastructure workflows.
• Nasdaq Boardvantage Governance solution for board management, meeting coordination, and corporate governance workflows used by listed-company boards.
• Nasdaq IR Insight Investor relations intelligence platform for IR professionals to manage communications and investor engagement.
• Nasdaq Metrio Sustainability solutions platform for ESG reporting and environmental performance tracking used by corporates.
• Nasdaq Data Link Market and alternative data platform providing real-time quotes, trades, and full depth-of-book data via a self-serve channel.
• Nasdaq Dorsey Wright Technical analysis and research solutions for investment decision support used by institutional investors.
• Nasdaq eVestment Investment intelligence platform for institutional asset managers and investors, providing analytics and institutional data.
• Nasdaq Clearing Multi-asset clearing services focused on Nordic derivatives for both regional and global trading members.
• Nasdaq Market Data Feeds Proprietary market data feeds powering real-time quotes, trades, last sale, and full depth-of-book for equities in the U.S., Europe, and Canada.
• Nasdaq Connect Global connectivity services for market participants linking to Nasdaq trading infrastructure.
• Nasdaq Fund Secondaries Secondary market for fund interests enabling liquidity for private fund investors.
• Nasdaq Lending Securities lending and financing solutions offered to market participants.
• Nasdaq Texas U.S. listing venue providing access to American capital markets.
• Nasdaq-100 Index Leading stock market index tracking the 100 largest domestic and international companies listed on The Nasdaq Stock Market, licensed for index-linked products.
• Nasdaq ETF Listings Exchange-traded fund listing services providing issuers access to diversified investment opportunities on Nasdaq venues.
• Nasdaq Private Market Private markets platform for pre-IPO trading and private company securities liquidity.
• Puro.earth Carbon Removal Platform Carbon removal and climate innovation platform for CO2 removal verification and trading.

Quantifiable outcome

• Q1 2026 revenue of $2.14 billion exceeding $1.37 billion forecast
• +4 more outcomes

Named customers20 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Two partnerships are on record, tiered core and minor.

• TaloscoreTechnology or Integration · 13 April 2026Strategic partnership to integrate digital asset infrastructure with Nasdaq's existing platforms. Nasdaq plans to launch equity tokenization design through this partnership, enabling digital asset trading capabilities across Nasdaq's European trading venues.
• Seturion (Boerse Stuttgart Group)minorStrategic or Co-development Partner · 10 March 2026Pan-European settlement platform partnership for tokenized assets connecting Nasdaq's European trading venues to Seturion's platform starting with structured products. Addresses European settlement fragmentation across major markets including EUWAX, Nasdaq Nordic venues, Italy's SeDeX, and Switzerland's SIX.

Scale indicators15 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Intercontinental Exchange (ICE): Operator of global exchanges and clearinghouses across futures, equities, and fixed income; directly comparable to Nasdaq in multi-asset trading, clearing, and data businesses including NYSE listings.
• CME Group: Largest derivatives exchange operator globally with comparable multi-asset clearing and market data franchises; directly comparable to Nasdaq's Nordic derivatives clearing and Market Services revenue.
• London Stock Exchange Group (LSEG): European-headquartered exchange and financial-infrastructure operator combining primary listings, fixed income, indices (FTSE Russell), and data; directly comparable to Nasdaq's European listings and index businesses.
• Deutsche Börse: German exchange operator running Xetra, Eurex clearing, and the STOXX index franchise; comparable in European equities trading, derivatives clearing, and index licensing.
• Euronext: Pan-European exchange operator with primary listings in Amsterdam, Paris, Brussels, Dublin, Lisbon, Milan, and Oslo; competes directly with Nasdaq Nordic for European listings and trading volume.
• Cboe Global Markets: Operator of US and European equities, options, and futures exchanges including Cboe Europe; comparable to Nasdaq in equity options, market data, and multi-venue European trading.

Broad incumbents

• Hong Kong Exchanges and Clearing (HKEX): Asia-Pacific exchange and clearing operator covering equities, derivatives, commodities, and post-trade services; relevant as a global stock-exchange peer at similar scale and platform breadth.
• Japan Exchange Group: Operator of Tokyo Stock Exchange and Osaka Exchange with multi-asset clearing; comparable in primary equity listings, derivatives, and market infrastructure in a developed market.

Regional players

• Singapore Exchange (SGX): Asia-Pacific exchange operator running equities, derivatives, and fixed-income trading with similar multi-asset platform structure to Nasdaq Nordic, though serving a different geography.
• TMX Group: Canadian exchange operator running Toronto Stock Exchange, TSX Venture, and Montreal Exchange derivatives; comparable to Nasdaq Nordic as a regional multi-asset exchange with similar listings, trading, and clearing revenue mix.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/nasdaq
• YouTubeyoutube.com/nasdaq
• Facebookfacebook.com/nasdaqomxeurope
• LinkedInlinkedin.com/company/nasdaq-omx
• Instagraminstagram.com/nasdaq

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NASDAQ OMX