Nasdaq Launches U.S. Corporate Bond Exchange
December 06 2018 - 7:00AM
Nasdaq (Nasdaq: NDAQ) today announced it launched a Corporate Bond
exchange for listing and trading of corporate bonds. The Securities
and Exchange Commission approved this exchange on November 13,
2018.
“Fixed income investors have undergone a number of market
structure and technological changes since the 2008 financial
crisis, while at the same time companies have increased their
issuance to take advantage of a low interest rate environment,”
said Ted Bragg, head of U.S. Fixed Income at Nasdaq.
“Nasdaq-listed companies today have underwritten more than 3,000
corporate bonds, and there exists an opportunity for public
companies to list their equity and debt in a more cost effective
way, using Nasdaq trading technology and surveillance, which is
substantial.”
PepsiCo claimed the inaugural listing on November 27 when
it announced it will transfer the securities exchange listing for
four separate senior notes due between 2021 and 2028.
This new exchange will run on the Nasdaq Stock Market license
and will be powered by the Nasdaq Financial Framework, Nasdaq’s
next generation market infrastructure technology platform.
Surveillance will be conducted by the Nasdaq Regulatory team,
including use of its global market surveillance system, SMARTS.
Nasdaq Nordics currently lists 1,287 corporate bonds across six
exchanges, seeing more than 80% growth since 2013, and Nasdaq will
bring this experience from that market to its entry into the U.S.
bond listing market. Sustainable bonds account for about 10% of
total corporate and municipal bonds listed on Nasdaq
Nordic, and has grown nearly four-fold since 2015.
About Nasdaq:
Nasdaq (Nasdaq: NDAQ) is a leading global provider of
trading, clearing, exchange technology, listing, information and
public company services. Through its diverse portfolio of
solutions, Nasdaq enables customers to plan, optimize and execute
their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global
capital markets. As the creator of the world's first electronic
stock market, its technology powers more than 100 marketplaces in
50 countries, and 1 in 10 of the world's securities
transactions. Nasdaq is home to approximately 4,000 total
listings with a market value of approximately $15 trillion. To
learn more, visit: http://business.nasdaq.com.
Media Contact Joe Christinat Nasdaq 646
441-5121 646 284-5920 joseph.christinat@nasdaq.com
NDAQF
Nasdaq (NASDAQ:NDAQ)
Historical Stock Chart
From Apr 2024 to May 2024
Nasdaq (NASDAQ:NDAQ)
Historical Stock Chart
From May 2023 to May 2024