NDAQ - Nasdaq revamps corporate structure to reflect evolving industry

Nasdaq ( NASDAQ: NDAQ ) will reorganize its corporate structure along three business lines — Market Platforms, Capital Access Platforms, and Anti-Financial Crime — to reflect changes in the global financial system and evolving client needs, the company said Wednesday.

"The financial system is being transformed by the modernization of markets, corporate and investor focus on long-term value creation, and the growing importance of protecting the system’s integrity," said Adena Friedman, president and CEO of Nasdaq ( NDAQ ). The company's previous structured divided its businesses into two major divisions Solutions and Market Services as seen in its Q2 earnings report .

The new corporate structure will take effect by the end of its Q4 2022 with the executive appointments taking effect on Jan. 1, 2023. Nasaq ( NDAQ ) shares have slipped 1.0% in Wednesday premarket trading.

Market Platforms will include the company's North American and European Market Services, Market Infrastructure, and two new growth areas — Digital Assets and Carbon Markets. Tal Cohen, who currently serves as executive vice president and head of North American Markets, will be the division's president.

Capital Access Platforms will combine Nasdaq's ( NDAQ ) Corporate Platforms and Investment Intelligence Business. Its core businesses are in index, data, and listings. Nelson Griggs, currently executive vice president of Corporate Platforms, will become president of Corporate Access Platforms and will continue in his role as president of the Nasdaq Stock Exchange.

Anti-Financial Crime will include, Verafin, the company's fraud detection and anti-money laundering product, and its market and trade surveillance products. Jamie King, executive vice president, will lead the Anti-Financial Crime division.

Nasdaq ( NDAQ )will report Q3 results according to its current structure and plans to publish its Q4 2022, full year 2022, and all future periods in alignment with the new structure.

The company's statement didn't say if the change would result in expected charges to future earnings.

Last week, Nasdaq ( NDAQ ) announced the formation of its digital asset business that will offer bitcoin and ethereum custody services for institutional clients.

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