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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
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- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- 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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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.
Related Stories: Regulators
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FINRA Election Notice: Upcoming Board of Governors Election
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SEC and FINRA Compliance Outreach for Broker-Dealers
April 16, 2019 -
FINRA 'Inflates' Monetary Sanctions in Sanction Guidelines
March 1, 2019