Nasdaq reports strong earnings growth driven by innovation and technology

From Nasdaq: 2024-10-30 09:30:00

Nasdaq reported its third quarter 2024 earnings, marking its fourth consecutive quarter of double-digit solutions growth. The company’s strong performance reflects progress made towards its strategic priorities: Integrate, Innovate, and Accelerate.

Nasdaq leverages technology as a critical enabler and driver of success. The Financial Technology division saw strong performance heading into the one-year anniversary of the Adenza acquisition. CEO Adena Friedman highlighted the importance of delivering for customers in new ways.

Calypso announced a new methodology to conduct investment portfolio risk calculations using AI-based machine learning. This technology allows for up to 100 times faster processing speeds for financial institutions conducting complex trading and regulatory risk calculations.

Nasdaq launched new AI-enabled products to help clients better solve their challenges. Verafin expanded its Targeted Typology Analytics to identify potential instances of terrorist financing and drug trafficking activity using advanced AI techniques.

Nasdaq rolled out AI Copilot tools to all developers, aiming to increase productivity and drive the product roadmap. An internal Gen AI platform was launched, with nearly 50% of employees engaging with custom-built skills to enhance efficiency.

Nasdaq continues to drive innovation by expanding its suite of products and capabilities. The Index business was named Best Index Provider, launching 35 new investment products in the third quarter. The Market Services division migrated Nasdaq International Securities Exchange to the Fusion platform.

Looking ahead, Nasdaq aims to advance innovation across its business, improving processes and leveraging technology to better serve its global client base. The company remains well-positioned for sustainable growth based on strong performance in Index and Financial Technology.



Read more at Nasdaq:: Nasdaq Third Quarter Earnings Recap: Innovation Continues to Drive Growth