Nasdaq Eyes New Pricing, Clearing As 1Q Profit Falls 22%>NDAQ
Nasdaq OMX Group Inc. (NDAQ) reported Thursday a 22% fall in first quarter profit Thursday and is examining further pricing initiatives amid continuing falls in its share of U.S. equity trading.
Bob Greifeld, chief executive of the transatlantic exchange operator, admitted he was “disappointed” with the U.S. equity performance, but pointed to potential earnings’ drivers in other areas such as clearing and derivatives.
He also pointed to some signs of life in the Initial Public Offerings market, with 98 applicants “on file”. “We are one or two ‘good news cycles’ away from having the IPO market come back in a reasonable format,” Greifeld said in an interview.
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