Announced
Financials
Sources
Tags
Private
United States
Acquisition
Domestic
trading venue
Joint Venture
Friendly
Pending
Financial Data and Systems
Majority
Private Equity
Synopsis
Nasdaq, SVB, Citi, Goldman Sachs and Morgan Stanley agreed to create a joint venture to establish an institutional-grade, centralized secondary trading venue for issuers, brokers, shareholders and prospective investors of private company stock. Financial terms were not disclosed. “Since we launched Nasdaq Private Market in 2014, we have created a trusted platform for private companies resulting in a strong track record and robust pipeline of secondary transactions. This joint venture will accelerate our opportunities in the private company secondary trading market and establish the standard for technology-driven operational efficiencies, compliance and execution,” Nelson Griggs, Nasdaq Stock Exchange President.
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