Nasdaq dokončil akvizici Dasseti, čímž rozšířil své institucionální investiční technologie o AI pro due diligence a monitoring. Získává také přístup k síti zhruba 17 000 správců aktiv a general partners s aktivy v objemu 34 bilionů USD.
Key Takeaways Nasdaq completed its acquisition of Dasseti, expanding its institutional investment-technology capabilities. Dasseti's AI automates due diligence and monitoring, reducing manual processes for institutional investors. NDAQ can leverage Dasseti's 17,000-manager ecosystem and $34 trillion in AUM to broaden client relationships. Nasdaq, Inc. (NDAQ - Free Report) has completed its acquisition of Dasseti, an AI-powered due diligence and monitoring platform serving investment consultants, institutional investors and asset managers. Announced in July 2026 and completed on Sept. 2, the transaction expands Nasdaq’s institutional investment-technology capabilities, although financial terms were not disclosed.
Dasseti helps institutional investors automate the evaluation and ongoing monitoring of investment managers and funds. Its technology streamlines due-diligence questionnaires, RFPs and monitoring workflows, using AI to reduce manual processes and organize investment-related information more efficiently. Nasdaq plans to integrate Dasseti into eVestment, extending the platform beyond manager research and selection into due diligence and ongoing monitoring.
The acquisition also gives Nasdaq access to Dasseti’s ecosystem of roughly 17,000 asset managers and general partners representing $34 trillion in AUM, creating opportunities to broaden relationships with institutional clients. Nasdaq Ventures previously invested in Dasseti in 2022, providing Nasdaq with familiarity with the platform before the acquisition.
The deal is strategically positive for NDAQ because it strengthens the company’s Data & Technology Solutions franchise and supports its shift toward higher-value data, analytics, AI and workflow technology. By combining eVestment’s institutional investment data with Dasseti’s due-diligence and monitoring capabilities, Nasdaq can offer clients a more comprehensive investment-management workflow and potentially create additional recurring technology and data revenues through cross-selling. The key opportunity is not the near-term financial contribution from Dasseti, but its potential to make eVestment more deeply embedded in clients’ investment processes and enhance Nasdaq’s long-term growth in institutional data and technology.
What About Its Peers?Cboe Global Markets, Inc.’s (CBOE - Free Report) acquisitions have largely focused on building out market-data, analytics and trading-technology capabilities. For example, Cboe acquired Hanweck, FT Options and Trade Alert, combining volatility analytics, options data and real-time trading intelligence. Cboe says the acquisitions were designed to integrate complementary datasets and technology, strengthening its market-data offering and giving clients tools across the trading lifecycle. Cboe recently shifted toward core derivatives, data and emerging-market opportunities, while divesting non-core businesses such as Cboe Canada and Australia.
Intercontinental Exchange Inc.’s (ICE - Free Report) strong example of an acquisition is Black Knight, which was completed in September 2023 for approximately $11.8 billion. Black Knight added mortgage software, data and analytics capabilities to ICE, complementing its earlier acquisitions of Ellie Mae, Simplifile and MERS and helping ICE build an end-to-end digital mortgage ecosystem. The combination brought together loan-origination, servicing, closing, consumer-engagement and data/analytics capabilities, allowing ICE to automate more of the mortgage lifecycle and generate additional recurring, technology-driven revenues.
NDAQ’s Price PerformanceShares of NDAQ have gained 2% in the past year, outperforming the industry.
Image Source: Zacks Investment Research
NDAQ’s OvervaluationThe stock is overvalued compared with its industry. It is currently trading at a price-to-earnings multiple of 21.43, higher than the industry average of 21.42.
Image Source: Zacks Investment Research
Estimate Movement for NDAQThe Zacks Consensus Estimate for NDAQ’s third-quarter and fourth-quarter 2026 EPS has moved up 3% and 2.8%, respectively, in the past 60 days. The same for full-year 2026 and 2027 EPS has moved up 4.8% and 5.6%, respectively, in the past 60 days.
The acquisition adds AI-powered due diligence and monitoring to Nasdaq eVestment™ and deepens the platform's coverage of private markets. | Source: Nasdaq, Inc.
NEW YORK, Sept. 02, 2026 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced that it has completed its acquisition of Dasseti, an AI-powered due diligence and monitoring platform for investment consultants, institutional investors, and asset managers. Dasseti's capabilities will be integrated into Nasdaq eVestment™, extending the platform across the full manager research, due diligence, and monitoring lifecycle. First announced on July 23, 2026, the acquisition builds on a relationship that began with an early-stage investment by Nasdaq Ventures in 2022. Financial terms were not disclosed.
Institutional teams operate across an expanding universe of managers, strategies, and asset classes, particularly in private markets, where data is less standardized and reporting requirements are more demanding. Nasdaq eVestment operates at the center of that universe, connecting roughly 4,800 contributing asset managers with more than 1,200 asset owners and intermediaries, powering more than $90 trillion in assets under management across 112,000+ products in 109 countries. Additionally, private markets coverage now includes more than 16,000 managers and 95,000 funds, all accessible via Nasdaq eVestment, global data providers, and customer relationship management platforms.
Dasseti applies AI to the due diligence questionnaires, request for proposals (RFPs), and ongoing monitoring that generate insight on how managers operate. The platform covers 17,000 asset managers and general partners (GPs) representing $34 trillion in assets under management, one of the industry's largest due diligence and monitoring ecosystems. Integrated into Nasdaq eVestment, those capabilities are expected to accelerate response times and improve data quality - giving consultants and institutional investors a complete path from screening through selection and ongoing monitoring in a single environment, while unifying the RFP, due diligence questionnaire (DDQ), and database management experience for asset managers.
"Much of the due diligence and RFP process still happens outside core research platforms, in a patchwork of spreadsheets, PDFs, and email threads," said Oliver Albers, Executive Vice President and Chief Product Officer, Capital Access Platforms, Nasdaq. “With Dasseti, we're bringing AI-powered due diligence and monitoring into Nasdaq eVestment, creating a more connected experience that helps institutional investors move from research to decision-making and ongoing oversight with greater efficiency and confidence."
For more information on Nasdaq eVestment: https://www.nasdaq.com/products/evestment
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X www.nasdaq.com.
About Nasdaq eVestment™
Nasdaq eVestment™ is a leading institutional intelligence and analytics platform that connects asset managers, asset owners, and investment consultants across public and private markets. As part of Nasdaq (Nasdaq: NDAQ), Nasdaq eVestment empowers institutional investment teams to make smarter, faster, and more confident decisions by delivering trusted data, market insights, and purpose-built workflows across the investment lifecycle. With the industry's most comprehensive database of institutional strategies, investors, and professionals, Nasdaq eVestment™ brings transparency and efficiency to manager research, due diligence, fundraising, and distribution. Our data, analytics, benchmarks, and engagement tools help clients uncover opportunities, evaluate performance, and strengthen relationships across the institutional investment community. To learn more about Nasdaq eVestment™, visit www.nasdaq.com/solutions/evestment.
Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. When used in this press release, words such as "will", "expected” and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Forward-looking statements in this press release include, among other things, statements about the potential benefits of the transaction to Nasdaq, and the capabilities and features of Dasseti’s offerings and solutions integrated with Nasdaq eVestment’s offerings.
Further information on these and other risks and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at www.sec.gov. These documents are also available under the Investor Relations section of Nasdaq 's website at http://ir.nasdaq.com/investor-relations. The forward-looking statements included in this press release are made only as of the date hereof. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Media Contact
Maximilian Leitenberger
646.852.0873 [email protected]
Nasdaq Verafin se spojil s Q6 Cyber a do své platformy přidává darkwebové zpravodajské informace o podvodech pro včasnější odhalování podvodů u finančních institucí.
Q6 partnership brings unique dark web fraud intelligence into Nasdaq Verafin’s consortium | Source: Nasdaq, Inc.
NEW YORK, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Nasdaq Verafin today announced a partnership with Q6 Cyber, bringing together Q6 Cyber's dark web fraud intelligence and Verafin's consortium data insights in a single platform to help financial institutions proactively identify and respond to emerging fraud and scam threats. Stolen checks, payment cards, and online banking credentials are increasingly traded through private forums and encrypted channels commonly referred to as the dark web. Through this partnership, financial institutions can access Q6 Cyber's specialized visibility into dark web activity alongside Nasdaq Verafin's industry-leading counterparty and transaction insights, providing a more comprehensive view of emerging threats and enabling more informed fraud prevention efforts.
“Financial institutions have long been at a structural disadvantage when it comes to fraud, as they can only see threats once they arrive,” said Colin Parsons, Head of Fraud Product Strategy at Nasdaq Verafin. “By integrating Q6 Cyber’s capabilities directly into Nasdaq Verafin, we are giving our clients the ability to identify fraud threats before the first fraudulent transaction is ever attempted. That kind of proactive protection is what banks and credit unions need to stay ahead in a threat environment that’s evolving faster than traditional defenses.”
Through this partnership, Nasdaq Verafin will integrate Q6 Cyber’s capabilities, known as dark web fraud intelligence, into its fraud and anti-money laundering platform, enabling financial institutions to receive Q6 Cyber data within the same workflow they use to investigate fraud cases. Q6 Cyber continuously monitors dark web marketplaces, deep web forums, and encrypted messaging platforms, identifying a wide range of fraud threats such as compromised checks, payment cards, and online banking credentials, among others. By combining these predictive and actionable risk signals with intelligence from Nasdaq Verafin’s consortium data network of over 2,800 financial institutions and more than 850 million counterparties, this partnership aims to deliver a more holistic picture of fraud risk. This enables banks and credit unions to identify and respond to fraud risks earlier, helping prevent fraud where possible and mitigate losses when suspicious activity is already underway.
“Access to these sources and communities is not something you can buy or crawl,” said Eli Dominitz, CEO of Q6 Cyber. “Our intelligence is highly impactful because over the past ten years, we have built a massive network of proprietary sources deep inside the dark web, going after the threat actors that target financial institutions. With first-hand access, every piece of intelligence we deliver is a confirmed compromise or threat rather than an exposure score. Bringing that into Nasdaq Verafin puts it in front of the fraud fighters who can act on it days or weeks before the fraud event even occurs.”
In the past 18 months alone, Q6 Cyber collected more than 1.2 million compromised checks, 57 million unique compromised credentials, and 158 million compromised payment cards from the hundreds of thousands of financial crime sources it monitors. Since this intelligence comes from directly inside the communities where stolen data is sold, this partnership is designed to deliver actionable threat intelligence within minutes to hours of surfacing on the dark web, which is usually well in advance of the ensuing fraud attempt.
Check fraud is an increasingly sophisticated and persistent fraud typology growing at an annualized rate of 20.4% over the last two years, according to Nasdaq Verafin’s 2026 Global Financial Crime Report. In a proof-of-concept, companies found that the average time from Q6 Cyber’s detection of a stolen check listing on the dark web to the first fraudulent check being returned was 10 days. By giving financial institutions a multi-day window to prevent the fraudulent check deposit, anti-financial crime teams can take steps to help ensure their customers’ accounts are protected well before a fraudulent transaction is even attempted.
Nasdaq Verafin clients will have access to Q6 Cyber’s powerful intelligence covering a range of fraud vectors including check fraud, payment card fraud, and online account takeover, enabling financial institutions to stay ahead of fraudsters. Nasdaq Verafin will receive intelligence from Q6 Cyber and surface it to customers as high-risk alerts, consolidating this threat data and making it available directly into Verafin's platform, so institutions can investigate and act on it in one unified workflow. To learn more about the partnership, visit: https://verafin.com/nasdaq-verafin-partners-with-q6-cyber.
About Nasdaq Verafin
Nasdaq Verafin provides Financial Crime Management Technology solutions for Fraud Detection and Management, AML/CFT Compliance and Management, High Risk Customer Management, Sanctions Screening and Management, and Information Sharing. More than 2,800 financial institutions, representing $13 trillion in collective assets, use Nasdaq Verafin to prevent fraud and strengthen AML/CFT efforts. Visit www.verafin.com to learn more.
About Q6 Cyber
Q6 Cyber delivers dark web fraud intelligence purpose-built for financial institutions. It identifies confirmed compromises within the dark web — such as stolen checks, payment cards, account credentials, and mule accounts, among others — and delivers them as actionable alerts, giving banks and credit unions a critical time advantage to act before fraud is attempted. Q6 Cyber runs 24/7/365 across hundreds of thousands of underground channels, including invite-only forums, encrypted messaging platforms, carding marketplaces, and malware and botnet infrastructure, in the numerous languages those communities operate in. Learn more here.
Cautionary Note Regarding Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will”, “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Q6 Cyber’s dark web intelligence and use of it together with the Verafin platform. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Nasdaq Verafin Media Relations Contact
David Lurie
+1.914.538.0533 [email protected]
Nasdaq oznámil, že NusaTrip Incorporated bude 12. srpna 2026 vyřazena z burzy, pokud se neodvolá. Akcie zůstávají pozastavené až do vyřešení případného odvolání a po vyřazení mohou být obchodovány OTC.
NEW YORK, Aug. 03, 2026 (GLOBE NEWSWIRE) -- The Nasdaq Stock Market (Nasdaq: NDAQ) announced today that it has notified NusaTrip Incorporated (Nasdaq: NUTR) that its securities will be delisted from the Nasdaq Stock Market LLC on August 12, 2026, unless the company appeals to a Listing Qualifications Hearings Panel. The securities will remain halted, and unavailable to trade, until any appeal is resolved. Following removal from Nasdaq the securities may be eligible for trading in the over-the-counter market.
Following a temporary trading suspension in the Company’s securities by the U.S. Securities and Exchange Commission (https://www.sec.gov/files/litigation/suspensions/2025/34-104167.pdf) Nasdaq halted trading in the Company’s ordinary shares on October 23, 2025. Nasdaq has now determined that it is appropriate to use its authority under IM-5101-4 to delist the Company’s securities from Nasdaq.
For news and additional information about the company, please review the companies’ public filings or contact the company directly.
For more information about The Nasdaq Stock Market, visit the Nasdaq Web site at http://www.nasdaq.com. Nasdaq’s rules governing the delisting of securities can be found in the Nasdaq Rule 5800 Series, available on the Nasdaq Web site: https://listingcenter.nasdaq.com/rulebook/nasdaq/rules/nasdaq-5800-series.
NEW YORK, July 23, 2026 (GLOBE NEWSWIRE) -- The Board of Directors of Nasdaq, Inc. (Nasdaq: NDAQ) has declared a regular quarterly dividend of $0.31 per share on the company's outstanding common stock. The dividend is payable on September 25, 2026 to shareholders of record at the close of business on September 11, 2026. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Board of Directors.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
Cautionary Note Regarding Forward-Looking Statements
Information set forth in this communication contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance, and that actual results could differ materially from those contained in the forward-looking information. Such forward-looking statements include, but are not limited to, information regarding our dividend program and future payment obligations. Forward-looking statements involve a number of risks, uncertainties, or other factors beyond Nasdaq’s control. These factors include, but are not limited to, Nasdaq’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk, U.S. and global competition, and other factors detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
Media Relations Contact:
David Lurie
+1.914.538.0533 [email protected]
Investor Relations Contact:
Ato Garrett
+1.212.401.8737 [email protected]
Nasdaq (NDAQ - Free Report) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $0.98 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +9.18%. A quarter ago, it was expected that this exchange operator would post earnings of $0.93 per share when it actually produced earnings of $0.96, delivering a surprise of +3.23%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Nasdaq, which belongs to the Zacks Securities and Exchanges industry, posted revenues of $1.5 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.87%. This compares to year-ago revenues of $1.31 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Nasdaq shares have lost about 6.4% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Nasdaq?While Nasdaq has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Nasdaq was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $1.00 on $1.44 billion in revenues for the coming quarter and $3.93 on $5.79 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Securities and Exchanges is currently in the bottom 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, S&P Global (SPGI - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on July 28.
This independent ratings and analytics provider is expected to post quarterly earnings of $4.49 per share in its upcoming report, which represents a year-over-year change of +1.4%. The consensus EPS estimate for the quarter has been revised 8.3% lower over the last 30 days to the current level.
S&P Global's revenues are expected to be $3.65 billion, down 2.9% from the year-ago quarter.
Nasdaq Private Market koupila NFS, sekundární fondový byznys Nasdaq, a rozšířila tak platformu pro sekundární likviditu o podíly ve fondech i přímé akcie společností.
NEW YORK, July 21, 2026 (GLOBE NEWSWIRE) -- Nasdaq Private Market (NPM), a leading provider of liquidity, capital and investment solutions for private companies and their investors, today announced it has acquired NFS, Nasdaq, Inc.’s fund secondaries business. NPM is an independent company that spun out of Nasdaq in 2021. The acquisition expands NPM's secondary liquidity platform to encompass both direct company shares and multi-asset fund stakes - giving NPM the capabilities and scale to serve the full spectrum of private secondary liquidity demand from a single platform.
“Liquidity is the defining challenge of today’s private markets, and secondaries have become the primary release valve for investors and managers alike,” said Tom Callahan, Chief Executive Officer of Nasdaq Private Market. “By bringing fund secondaries onto our platform, we become one of the few platforms where investors can execute liquidity transactions across both direct shares and fund stakes. This is a natural extension of everything we’ve built, and it positions NPM to grow alongside one of the most dynamic markets in finance.”
The private secondaries market has reached record scale: global secondary volume grew an estimated 53% in 2025 to roughly $233 billion, split almost evenly between LP-led and GP-led activity1. These transactions give investors and managers a way to unlock liquidity from otherwise long-dated, illiquid fund commitments — with limited partners selling existing fund stakes to rebalance portfolios (LP-led), and fund managers using continuation vehicles and other structured solutions to return capital to investors while retaining their highest-conviction assets (GP-led). Once a niche, GP-led activity has grown from less than 20% of the market a decade ago to nearly half today2.
In addition to opening access to the full addressable market for fund secondaries, the acquisition also creates meaningful opportunity to capture synergies and scale shared processes, technology, and distribution across both businesses.
"Nasdaq Fund Secondaries provides industry-leading liquidity solutions for GPs and LPs in the private markets and we believe it will be best positioned to realize its full potential within NPM, where it can benefit from greater focus, continued investment and the strengths of a dedicated private markets platform,” said Nelson Griggs, President of Nasdaq, “Nasdaq remains a committed shareholder of Nasdaq Private Market, and we look forward to continuing our partnership with them to realize the long-term opportunity across private markets."
The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions, including requisite regulatory approvals. Terms of the deal have not been disclosed.
About Nasdaq Private Market
Nasdaq Private Market LLC is a leading provider of liquidity, capital, and investment solutions for private companies and their investors, including individuals, fund managers and institutional LPs. The company is focused on building modern infrastructure for the private market ecosystem and has executed nearly $80 billion in secondary liquidity for 200,000+ individual eligible employee shareholders and investors across 1,000+ company-sponsored liquidity programs. Nasdaq Private Market is an independent company with strategic investments from Nasdaq and other institutional partners. Learn more at www.nasdaqprivatemarket.com.
About Nasdaq
Nasdaq, Inc. (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the infrastructure of the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying advanced technology, data, and intelligence solutions that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
This communication contains forward-looking information related to Nasdaq and the proposed sale of Nasdaq Fund Secondaries by Nasdaq to NPM that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. When used in this communication, words such as “will”, “enables”, “intends”, “expected”, “enhances”, “can” and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. Forward-looking statements in this communication include, among other things, statements about the potential benefits of the proposed transaction, Nasdaq’s plans, objectives, expectations and intentions, the financial condition, results of operations and business of Nasdaq, and the anticipated timing of closing of the proposed transaction. Risks and uncertainties include, among other things, risks related to the ability of Nasdaq to consummate the proposed transaction on a timely basis or at all; the ability to realize the anticipated benefits of the proposed transaction, including the possibility that the expected benefits from the proposed transaction will not be realized or will not be realized within the expected time period; disruption from the transaction making it more difficult to maintain business and operational relationships; risks related to diverting management’s attention from Nasdaq’s ongoing business operations; unknown liabilities; the risk of litigation or regulatory actions related to the proposed transaction; and the effect of the announcement or pendency of the transaction on Nasdaq’s business relationships, operating results, and business generally.
Further information on these and other risks and uncertainties relating to Nasdaq can be found in its reports filed on Forms 10-K, 10-Q and 8-K and in other filings Nasdaq makes with the SEC from time to time and available at www.sec.gov. These documents are also available under the Investor Relations section of Nasdaq’s website at http://ir.nasdaq.com/investor-relations. The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.
Nasdaq uzavřel s Národní bankou Gruzie partnerství na modernizaci treasury infrastruktury. Platformu Nasdaq Calypso přijmou Bank of Georgia, TBC Bank, Liberty Bank, Terabank a Basisbank.
Shared Platform Backed by The National Bank of Georgia Will Deliver Trusted Global Infrastructure to Support Growth of the Banking Sector July 20, 2026 03:00 ET | Source: Nasdaq, Inc.
TBILISI, Georgia and NEW YORK, July 20, 2026 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced a landmark partnership with the National Bank of Georgia (NBG) to modernize the treasury and financial markets infrastructure across Georgia's banking sector. Five of the country's largest commercial banks — Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank — will adopt the Nasdaq Calypso platform under a shared, common infrastructure model spanning the full front-to-back trade lifecycle. The initiative, operating under the Georgian Market Advancement Program (GMAP) and coordinated in collaboration with the Georgian Financial Markets Treasuries' Association (GFMTA), represents a significant milestone in the development of Georgia's capital markets.
Natia Turnava, Governor of the National Bank of Georgia, said: “Modernising Georgia's treasury infrastructure is a strategic priority for the National Bank of Georgia and a critical step in the continued development of our financial system. By bringing the country's five largest commercial banks onto a common, internationally recognized platform, we are raising the standard of risk management, regulatory oversight, and operational resilience across the sector. This initiative reflects our commitment to building a financial market that is robust, transparent, aligned with international best practice, and equipped to support Georgia's continued economic growth.”
Why Georgia's Banks Need a New Treasury Infrastructure Model
Georgia's commercial banking sector has experienced double-digit growth over the past five years, with total assets approaching USD 38 billion - reflecting the depth and dynamism of the country's financial system. As the sector has grown, so too has demand for more sophisticated treasury infrastructure capable of supporting complex securities and derivatives markets, enterprise-grade risk management, and increasingly rigorous regulatory standards. At the same time, the investment required to deploy and maintain such infrastructure at the individual institutional level represents a significant undertaking for any single bank. A shared, coordinated approach - pooling resources and expertise across the sector - provides the most efficient path to achieving that ambition at scale.
Magnus Haglind, Head of Capital Markets Technology at Nasdaq, said: “Georgia presents a compelling example of how the shared infrastructure model can unlock real value for individual institutions and the financial system as a whole. By drawing on Nasdaq’s experience navigating modernization programs at scale, firms gain access to deep institutional knowledge and the ability to evolve without bearing the full cost, risk, or operational complexity of doing it alone. GMAP reflects exactly the kind of structured, country-level framework that enables this type of transformation to succeed. We welcome the opportunity to support the National Bank of Georgia in this initiative, and to help Georgia's banking sector build the infrastructure it needs for its next phase of growth.”
How Nasdaq Calypso Solves the Shared Infrastructure Challenge for Georgian Banks
The Nasdaq Calypso platform will be deployed as a shared infrastructure model, installed at a centralized location with each of the five participating banks represented as a separate entity within the same instance, with their data fully segregated. Each institution will benefit from a configuration adapted to its individual business requirements, risk profile, and operational context, while operating within a common framework that enables standardized reporting and workflows, shared market data, and collective governance, oversight, and audit capabilities.
The platform will span the complete trade lifecycle from front-office deal capture and pricing, through middle-office risk management and compliance, to back-office settlement, accounting, and financial reporting. This end-to-end architecture eliminates the need for multiple point solutions, reduces reconciliation overhead, and delivers a single source of truth for treasury operations across the sector.
Standardization also delivers systemic benefits beyond any single institution. With harmonized data and reporting across all five banks, the National Bank of Georgia gains materially enhanced visibility into treasury exposures, liquidity positions, and systemic risk, supporting more effective macroprudential supervision. Consistent audit trails and common reporting frameworks reduce the burden on both banks and regulators and provide a robust foundation for Georgia's continued integration with international financial standards, including ISO 20022, the global messaging standard for financial data exchange.
Lasha Jugeli, Executive Secretary of the Georgian Financial Markets Treasuries' Association, said: “The Georgian Market Advancement Program (GMAP) is the result of years of deliberate coordination across Georgia's banking sector, and it marks a pivotal moment for our Association and the institutions we represent. By aligning on a shared infrastructure backed by Nasdaq's global expertise and the National Bank of Georgia's institutional support, and project management funding provided by Japan through the Japan–EBRD Cooperation Fund, our member banks are not only modernising their own operations — they are collectively raising the standard for treasury management across the sector. We are proud to have played a central role in bringing this initiative to fruition, and we look forward to the tangible benefits it will deliver for our members and for Georgia's financial markets as a whole.”
The five participating banks collectively represent the majority of Georgia's commercial banking sector assets, and their adoption of a common, internationally recognised platform marks a defining step in Georgia's emergence as a modern, well-governed financial market.
Notes to Editors
The project management component of the 'Implementation of the Treasury Management Solution for Georgian Commercial Banks' project has been financed by Japan through the Japan–EBRD Cooperation Fund.
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About The National Bank of Georgia
The National Bank of Georgia (NBG) is the central bank of Georgia. Its status is defined by the Constitution of Georgia. The main objective of the National Bank is to ensure price stability. Georgia's first central bank was established in 1919. In its current form the National Bank of Georgia has existed since 1991. According to the Constitution of Georgia, the National Bank is independent in its activities. Beyond this mandate, the NBG operates as Georgia’s integrated financial supervisor - a single megaregulator that oversees nearly the entire financial sector rather than functioning as an ordinary bank. Its remit spans the regulation and oversight of commercial banks, microbanks, microfinance organizations, payment service providers, virtual asset service providers, and other market participants, together with responsibility for the secure and efficient operation of payment and settlement systems and for advancing transparency, consumer protection, and financial literacy. The NBG also safeguards financial stability and manages the country’s international reserves, a key anchor of macroeconomic stability. For additional information, visit https://nbg.gov.ge/en.
About Georgian Financial Markets Treasuries Association
Georgian Financial Markets Treasuries Association GFMTA was established on November 21, 2018 by the National Bank of Georgia (NBG), various commercial banks and microfinance organizations. Today, the Association is the largest professional organization that cares about the development of financial markets in Georgia and unites 16 entities operating in different segments of the financial markets of Georgia, including 11 commercial banks, 2 microfinance organizations, the Pension Agency of Georgia, the National Bank of Georgia, and a corporation.
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