The NASDAQ OMX Group, Inc.
06.03.2013 13:00
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The Joint Venture - The NASDAQ Private Market - Intends to Enhance the
Efficiency and Control of the Market for Private Shares
Pre-IPO Market Will be Open to All Broker-Dealers
NEW YORK and SAN FRANCISCO, 2013-03-06 13:00 CET (GLOBE NEWSWIRE) -- The NASDAQ
OMX Group, Inc. (Nasdaq:NDAQ) and SharesPost, Inc. announced today a joint
venture that will establish the preeminent marketplace for private growth
companies. The venture combines NASDAQ OMX's market and operating expertise as
well as resources with SharesPost's leading web-based 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.
'The support of entrepreneurs is a fundamental element of our DNA at NASDAQ
OMX,' said Bruce Aust, EVP of NASDAQ OMX. 'The NASDAQ Private Market will
provide private companies additional flexibility as they plan for their future
and, at the same time, bring the investment community unique opportunities. By
combining our resources, expertise and reach with SharesPost's established
technology, we will bring scale, efficiency and transparency to this
marketplace.'
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.
'NASDAQ OMX has a long history of pioneering capital markets solutions for
companies and creating more efficient markets,' said SharesPost Founder, Greg
Brogger. 'Its dedication to that mission, and SharesPost's best-in-class
trading platform, will create a new kind of private market and will help NPM
solve the critical challenges facing today's private companies.'
NPM will launch later this year pending regulatory approvals, with Greg Brogger
as President, and will be based in San Francisco. SharesPost's broker dealer
and RIA businesses will continue to operate separately from the joint venture.
About NASDAQ OMX Group
The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels
economies and provides transformative technologies for the entire lifecycle of
a trade - from risk management to trade to surveillance to clearing. In the
U.S. and Europe, we own and operate 26 markets including 3 clearinghouses and 5
central securities depositories supporting equities, options, fixed income,
derivatives, commodities, futures and structured products. Able to process more
than 1 million messages per second at sub-55 microsecond average speeds with
99.99% uptime, our technology drives more than 70 marketplaces in 50 developed
and emerging countries into the future, powering 1 in 10 of the world's
securities transactions. Our award-winning data products and worldwide indexes
are the benchmarks in the financial industry. Home to approximately 3,300
listed companies worth $6 trillion in market cap whose innovations shape our
world, we give the ideas of tomorrow access to capital today. Welcome to where
the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century.
To learn more, visit www.nasdaqomx.com. Follow us on Facebook
(http://www.facebook.com/NASDAQ) and Twitter
(http://www.twitter.com/nasdaqomx). (Symbol: NDAQ and member of S&P 500)
ABOUT SHARESPOST
SharesPost is the market for today's fast-growing private companies, their
shareholders and qualified investors. SharesPost represents companies who wish
to conduct managed liquidity programs and raise primary capital online;
provides investors access to private companies through direct investments and
managed funds; offers shareholders liquidity options; and empowers option
holders to exercise their options.
With a listing of over 200 fast-growing companies, an extensive network of
investors assembled in one place online, and a broad offering of independent,
third-party research and customized products and services, SharesPost brings
greater efficiency, flexibility, and control to the process of raising capital,
and buying or selling shares in the private capital market. SharesPost's
management team includes experienced executives from the financial services,
banking, legal, technology and security sectors, with concentrated expertise in
working with emerging industry leaders.
SharesPost is a registered broker-dealer, a member of FINRA and SIPC. For more
information, please visit www.sharespost.com.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made
under the Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These statements include, but are not limited to, statements about
The NASDAQ Private Market and NASDAQ OMX's other businesses, products and
offerings. We caution that these statements are not guarantees of future
performance. Actual results may differ materially from those expressed or
implied in the forward-looking statements. Forward-looking statements involve a
number of risks, uncertainties or other factors beyond NASDAQ OMX's control.
These factors include, but are not limited to factors detailed in NASDAQ OMX's
annual report on Form 10-K, and periodic reports filed with the U.S. Securities
and Exchange Commission. We undertake no obligation to release any revisions to
any forward-looking statements.
NDAQG
CONTACT: NASDAQ OMX Media Relations Contacts:
Joseph Christinat
+1.646.441.5121
Joseph.Christinat@NASDAQOMX.com
Jennifer Knapp
+1.212.401.8916
Jennifer.Knapp@NASDAQOMX.com
News Source: NASDAQ OMX
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Language: English
Company: The NASDAQ OMX Group, Inc.
United States
Phone:
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ISIN: US6311031081
WKN:
End of Announcement DGAP News-Service
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DGAP-News: NASDAQ OMX and SharesPost to Form Private Market
| Source: EQS Group AG