Topics & People

A subsidiary of Nasdaq that facilitates secondary transactions for private companies. It operates on an 'issuer first' model, partnering with companies to manage liquidity events.

The Federal Reserve Bank of New York. Adena Friedman serves on its board, and she discusses its data-driven, apolitical nature and views on the US dollar and systemic risk.

Special Purpose Vehicles often used to pool capital to buy shares of private companies on the secondary market, which are drawing regulatory scrutiny.

An alternative method for companies to go public without traditional bank underwriters, discussed as potentially superior to traditional IPOs.

The establishment of clear rules and regulations, particularly for new industries like cryptocurrency. Its absence has held back institutions like Nasdaq from fully entering the crypto market.

The set of procedures that occur after a trade is executed, including clearing and settlement. Tokenization is seen as a technology that can streamline this process and reduce friction.

The Chairman of the SEC, described as forward-leaning and wanting to 'make IPOs great again' and embrace the crypto ecosystem.

Financial markets for publicly traded equities, where liquidity and large-scale growth can occur post-IPO.

A trading schedule that operates 24 hours a day, five days a week. Nasdaq is moving towards this model for US equities to cater to global investors.

Traditional securities that are represented as digital tokens on a blockchain. They are one of the three asset classes that can be traded under the Regulation Super App framework.

A major American stock exchange, which, along with the NYSE, forms a duopoly that the new Texas Stock Exchange aims to challenge. It is criticized for increasing compliance costs and imposing board diversity targets.

CEO of Nasdaq, who has transformed the company into a global technology powerhouse. She also serves on the board of the New York Fed.