NASDAQ in joint venture to tap private markets

The NASDAQ OMX Group, Inc. has entered the private market space in a joint venture with SharesPost, Inc., known for it’s web-based trading platform.

The NASDAQ Private Market (NPM) will provide improved access to liquidity for early investors, founders and employees while enabling the efficient buying and selling of private company shares. While NASDAQ will retain a majority stake in the venture, specific terms of the joint venture were not disclosed.

An increasing number of companies are choosing to remain private longer, which requires an efficient means to access liquidity for employees and investors. NPM will offer a complete, end-to-end solution that will enable a private company to control the marketplace for its shares. Transactions on NPM will meet NASDAQ OMX’s industry-leading standards for security, compliance and client support.

NPM will launch later this year pending regulatory approvals.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.