NASD (then parent of NASDAQ Stock Market)

OTC Securities Exchangenasdng.com

NASD Plc operates Nigeria's regulated OTC Securities Exchange for public companies not listed on other Nigerian exchanges, with additional digital-asset (N-DSP), crowdfunding (VentureRamp), enterprise (NASDeP), and private-markets platforms serving SMEs, listed companies, investors, and broker/dealers.

Company typePrivate
Founded1998
HeadquartersLagos, Nigeria
Headcount11–50
GTM typeB2B
OfferingServices

What NASD (then parent of NASDAQ Stock Market) does

NASD Plc is a Nigerian private limited company that operates the NASD OTC Securities Exchange, the regulated over-the-counter market in Nigeria for listing and trading shares of public companies (PLCs) that do not trade on other registered Nigerian exchanges. Incorporated in Nigeria and headquartered at 9th Floor, UBA House, 57 Marina, Lagos, NASD is registered with the Securities and Exchange Commission (SEC) as a Self-Regulatory Organisation and is a member of the Association of Securities Exchanges of Africa (ASEA), the Association of Securities Exchanges of Nigeria (ASEN), and the Lagos Chamber of Commerce and Industry (LCCI). Its core product is the OTC Securities Exchange, which facilitates primary market offerings and secondary-market trading of admitted securities, complemented by Commercial Papers Listings for short-term corporate debt instruments and Data Services through the NASD Data Portal.

Beyond the core exchange, NASD has built a broader capital-formation platform spanning four sub-brands: the N-DSP (NASD Digital Securities Platform) for listing and trading of digital assets; VentureRamp, a crowdfunding platform for structured project funding; NASDeP (NASD Enterprise Portal), which connects businesses at various stages with capital providers; and NASD Private Markets, for private-securities trading and investment. NASD publishes proprietary market performance indicators (NASD Market Index and NASD Pension Index) and operates a participating-institutions ecosystem of broker/dealer firms, broker firms, registrars, settlement banks, central securities depositories, issuing houses, and custodians.

The business model is a transaction-fee exchange: revenue is generated from securities trading activities, admission/listing fees for new issuers, and ancillary market-data services. Pricing is not publicly tiered. Customer segments include small and medium-sized enterprises seeking alternative medium- and long-term capital, public listed companies seeking a regulated secondary venue, investors seeking portfolio diversification, and broker/dealer firms operating trading infrastructure. Strategic momentum in 2025–2026 has been driven by a series of large admissions (Infrastructure Credit Guarantee Company Plc, MRS Oil Nigeria PLC, PAINTCOM Investment Nigeria PLC), market capitalisation growth to N2.56 trillion by July 2026, and a N1.3 billion strategic stake acquired by Norrenberger Securities Limited at a 111% premium — the largest institutional transaction in Nigeria's OTC market that year.

NASD (then parent of NASDAQ Stock Market) firmographics

Firmographics

Name: NASD (then parent of NASDAQ Stock Market)
Legal name: NASD Plc
Website: https://nasdng.com
Company type: Private
Founded year: 1998
Operating status: Operating
Headcount range: 11–50 employees
Short description: NASD Plc operates Nigeria's regulated OTC Securities Exchange for public companies not listed on other Nigerian exchanges, with additional digital-asset (N-DSP), crowdfunding (VentureRamp), enterprise (NASDeP), and private-markets platforms serving SMEs, listed companies, investors, and broker/dealers.
Ownership category
akta.pro rank

NASD (then parent of NASDAQ Stock Market) industry classification

Industry

Product category: OTC Securities Exchange
NAICS: Securities and Commodity Exchanges (523210)
SIC: Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
akta.pro primary industry: OTC Derivatives Execution Platforms (SEF/OTF/Swap Execution) (FSAFANAE)
akta.pro secondary industries: OTC Desks & Block Trading (Exchange-Operated) (FSADAAAE), OTC Desks & Block Trading Networks (FSAPADAH)

Keywords

OTC securities exchange
Capital formation
Securities trading
Digital securities platform
Crowdfunding platform

Where NASD (then parent of NASDAQ Stock Market) is headquartered

Location

Headquarters

HQ city: Lagos
HQ country: Nigeria
HQ region: Africa

Offices1 record

Markets served

NASD (then parent of NASDAQ Stock Market) business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

Securities Trading Fees: Revenue generated from trading activities on the OTC securities exchange including admission fees, transaction fees, and market data services

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

NASD (then parent of NASDAQ Stock Market) product offering

Product offering

Core offering

NASD Plc operates the NASD OTC Securities Exchange in Nigeria, a self-regulatory organisation registered with and regulated by the Securities and Exchange Commission (SEC), Nigeria. It provides listing and trading of shares of public companies (PLCs) not trading on other registered exchanges, complemented by digital platforms including N-DSP (Digital Securities Platform for digital assets), NASDeP (Enterprise Portal for capital seeking), VentureRamp (crowdfunding), and NASD Private Markets.

Product overview

NASD Plc operates as West Africa's Most Innovative Exchange for capital formation, functioning as an OTC Securities Exchange (a self-regulatory organization registered with and regulated by the Securities and Exchange Commission, Nigeria). The platform consists of a core OTC Securities Exchange for listing and trading public company shares, complemented by several digital platforms: Venture Ramp (crowdfunding), N-DSP (Digital Securities Platform for digital assets), NASDeP (Enterprise Portal for business capital seeking), and NASD Private Markets. Additional offerings include Commercial Papers Listings for short-term corporate debt and Data Services through the NASD Data Portal. The company is a member of the Association of Securities Exchanges of Africa (ASEA), Lagos Chamber of Commerce (LCC), and Association of Securities Exchanges of Nigeria (ASEN).

Differentiator

Problem solved

Functional benefit

Brands

N-DSP (NASD Digital Securities Platform): Listing and trading platform for digital assets on the NASD exchange.
VentureRamp
NASDeP (NASD Enterprise Portal)

Products and services

NASD OTC Securities Exchange

Quantifiable outcome

NASD Market Index (NSI) at 4,268.20 with market capitalization of N2.56 trillion as of July 2026

Companies that use NASD (then parent of NASDAQ Stock Market)

Customer profile

Named customers8 records

Segments4 records

Ideal customer profiles4 records

NASD (then parent of NASDAQ Stock Market) technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature4 records

NASD (then parent of NASDAQ Stock Market) partnerships and signals

Strategic signal

Partnerships

Eight partnerships are on record, tiered core and minor.

Lagos Chamber of Commerce and Industry (LCCI)coreStrategic or Co-development Partner · 10 June 2026LCCI and NASD co-hosted a stakeholders' forum in Lagos to help Small and Medium Enterprises access alternative medium and long-term capital market financing. Representatives emphasized the role of capital markets in bridging businesses' funding gaps.
Securities and Exchange Commission (SEC)coreOthersNASD is a Self-Regulatory Organisation registered with and regulated by the Securities and Exchange Commission (SEC), Nigeria.
Association of Securities Exchanges of Africa (ASEA)minorOthersNASD is a member of ASEA, an association of securities exchanges in Africa.
Association of Securities Exchanges of Nigeria (ASEN)minorOthersNASD is a member of ASEN, the association of securities exchanges in Nigeria.
Cardinal StoneminorChannel Partner/ Reseller/ DistributorFeatured partner providing brokerage and securities services on NASD platform.
Greenwich TrustminorChannel Partner/ Reseller/ DistributorFeatured partner providing securities services on NASD platform.
UBA (United Bank for Africa)minorChannel Partner/ Reseller/ DistributorFeatured partner providing financial services on NASD platform.
CoronationminorChannel Partner/ Reseller/ DistributorFeatured partner providing capital markets services on NASD platform.

Scale indicators6 records

Recent moves5 records

Expansion highlights6 records

NASD (then parent of NASDAQ Stock Market) competitors and assessment

Company assessment

Direct peers

FMDQ Group: Operates Nigeria's over-the-counter fixed income and currency markets; runs parallel OTC exchange infrastructure in Nigeria and competes with NASD for listings, trading volumes and market data revenue in the domestic OTC venue.
Nigerian Exchange Group (NGX): Operator of the main Nigerian Stock Exchange; the most direct competitor for primary listings and secondary trading flow of Nigerian public companies, competing with NASD for issuer mandates and investor attention.

Broad incumbents

Egyptian Exchange (EGX): North Africa's largest stock exchange with a Nilex SME board; comparable as a multi-tier African exchange providing both main-board listings and SME-focused trading venues analogous to NASD's OTC platform.
OTC Markets Group: US operator of the OTCQX, OTCQB and Pink markets; globally the most established OTC securities exchange for companies not listed on primary exchanges — directly comparable business model to NASD's core OTC exchange, though at vastly greater scale.
Johannesburg Stock Exchange (JSE): Largest securities exchange in Africa; operates multiple boards (Main Board, Alt-X) including alternative/exchange-regulated tiers for SMEs that compete with NASD's value proposition for African SMEs seeking public capital markets access.
Nairobi Securities Exchange (NSE): East Africa's leading securities exchange with an established growth enterprise market segment (GEMS) for SMEs; comparable as an African exchange operator pursuing SME-focused capital formation similar to NASD's positioning.

Others

African Stock Exchange Association (ASEA): Industry association of African securities exchanges of which NASD is a member; not a direct competitor but a peer ecosystem where exchange operators coordinate on standards, listings and cross-border initiatives relevant to NASD's regional ambitions.

Emerging players

Cape Town Stock Exchange (CTSE): Newer South African exchange targeting smaller and mid-cap listings; comparable as a challenger African exchange pursuing SME and growth-company listings against incumbents, mirroring NASD's alternative-exchange positioning in Nigeria.

Regional players

Lagos Commodities and Futures Exchange (LCFE): Nigeria-based commodities and futures exchange; competing Nigerian capital markets infrastructure targeting alternative asset classes, potentially competing for issuer mindshare and exchange-adjacent regulatory positioning.
Bourse Régionale des Valeurs Mobilières (BRVM): West African regional exchange serving eight ECOWAS member states including Nigeria-adjacent markets; comparable as a regulated securities exchange infrastructure for capital formation in West Africa, even though it operates across a different country grouping.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

NASD (then parent of NASDAQ Stock Market) financial estimates

Financial estimate

Revenue estimate

Valuation estimate

NASD (then parent of NASDAQ Stock Market) leadership team

Management profile

Number of profiles

Profiles1 record

NASD (then parent of NASDAQ Stock Market) subsidiaries and ownership

Company hierarchy

Subsidiaries4 records

NASD (then parent of NASDAQ Stock Market) funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

NASD (then parent of NASDAQ Stock Market) M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about NASD (then parent of NASDAQ Stock Market)

What does NASD (then parent of NASDAQ Stock Market) do?

Is NASD (then parent of NASDAQ Stock Market) a public or private company?

NASD (then parent of NASDAQ Stock Market) is a private company. It is classified as unknown and is currently operating.

When was NASD (then parent of NASDAQ Stock Market) founded?

NASD (then parent of NASDAQ Stock Market) was founded in 1998. It employs 11 to 50 people.

Where is NASD (then parent of NASDAQ Stock Market) based?

NASD (then parent of NASDAQ Stock Market) is headquartered in Lagos, Nigeria, in the Africa region.

How does NASD (then parent of NASDAQ Stock Market) make money?

One revenue line is on record: securities Trading Fees.

Who are NASD (then parent of NASDAQ Stock Market)'s main competitors?

Direct peers on record are FMDQ Group and Nigerian Exchange Group (NGX). Broad incumbents are Egyptian Exchange (EGX), OTC Markets Group, Johannesburg Stock Exchange (JSE) and Nairobi Securities Exchange (NSE). African Stock Exchange Association (ASEA) is listed as an others. Cape Town Stock Exchange (CTSE) is listed as an emerging player. Regional players are Lagos Commodities and Futures Exchange (LCFE) and Bourse Régionale des Valeurs Mobilières (BRVM).

Does NASD (then parent of NASDAQ Stock Market) have an API?

No public API is recorded for NASD (then parent of NASDAQ Stock Market).

What industry is NASD (then parent of NASDAQ Stock Market) in?

NASD (then parent of NASDAQ Stock Market)'s product category is OTC Securities Exchange. Its primary akta.pro industry code is FSAFANAE, OTC Derivatives Execution Platforms (SEF/OTF/Swap Execution), with a secondary code of FSADAAAE, OTC Desks & Block Trading (Exchange-Operated). Its NAICS code is 523210 and its SIC code is 6200.