Nasdaq Inc. is making significant investments in technology to combat financial crime, according to Chief Executive Officer Adena Friedman. The anti-financial crime business is the fastest-growing segment for Nasdaq, experiencing a year-over-year growth of approximately 20%. In order to enhance its anti-crime offerings, Nasdaq is harnessing the power of artificial intelligence to predict and expedite the identification of criminal behavior within the industry. This technology aims to eliminate threats by working in collaboration with banks, other exchanges, and brokerage firms.
Since becoming CEO in 2017, Friedman has played an instrumental role in transforming Nasdaq from a traditional exchange into a diversified financial-services company. The acquisition of software provider Adenza for $10.5 billion marked a significant milestone in this transformation. Nasdaq’s strategy focuses on developing predictable revenue streams rather than relying solely on income from trading and market volatility.
During the Consumer Technology Association conference in Las Vegas, Friedman also commented on the Securities and Exchange Commission’s approval of spot Bitcoin ETFs. Nasdaq is among the exchanges that have filed to list this new product on their venue. Friedman emphasized that the regulated and liquid nature of ETFs provides enhanced accessibility to Bitcoin without direct ownership.
Looking ahead, Friedman anticipates a more robust backdrop for initial public offerings (IPOs) in 2024. Nasdaq surpassed the New York Stock Exchange in the number of listings last year, and Friedman expects activity to increase despite the current high cost of capital. The biotechnology sector is one area that shows promise for IPOs. Additionally, companies leveraging artificial intelligence are finding ways to differentiate themselves in the market.
Friedman noted that the number of public offerings will depend on the economic environment. With inflation subsiding and the potential for declining interest rates, investors are feeling more confident about deploying capital this year.
In summary, Nasdaq’s focus on technology for combatting financial crime underscores its commitment to safeguarding the industry and providing secure platforms for participants.
The source of the article is from the blog crasel.tk