Nasdaq Announces Expected Closing Date for Sale of U.S. Fixed Income Business to Tradeweb Markets

Rhea-AI Summary

Nasdaq, Inc. (NDAQ) announced regulatory approvals for the sale of its U.S. fixed income business, Nasdaq Fixed Income (NFI), to Tradeweb Markets Inc. (TW). The transaction is expected to close around June 25, 2021. This sale marks a strategic move for Nasdaq to focus on its core business operations while transferring non-core assets to Tradeweb, a leading electronic marketplace operator. Nasdaq's technology solutions are designed to enhance capital market efficiency and support client goals.

Positive

• Regulatory approvals obtained for the sale of Nasdaq Fixed Income to Tradeweb.
• Strategic focus on core business operations following the sale.

Negative

• Risks related to completing the transaction on time.
• Potential negative effects on Nasdaq's stock price and operating results.

NEW YORK, June 22, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (Nasdaq: NDAQ) announced today that all required regulatory and self-regulatory approvals have been obtained for the previously announced sale of its U.S. fixed income business, Nasdaq Fixed Income (NFI), to Tradeweb Markets Inc. (Nasdaq: TW), a leading global operator of electronic marketplaces for rates, credit, equities and money markets.

Nasdaq expects the closing of the proposed NFI transaction to occur on or around June 25, 2021.

About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This communication contains forward-looking information related to Nasdaq and the proposed sale of the Nasdaq Fixed Income business by Nasdaq to an affiliate of Tradeweb Markets, which transaction 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”, “enable”, “intends”, “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 communication include, among other things, statements about 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; the negative effects of the announcement or the consummation of the proposed transaction on the market price of Nasdaq’s common stock or on Nasdaq’s operating results; significant transaction costs; unknown liabilities; the risk of litigation or regulatory actions related to the proposed transaction; future levels of Nasdaq’s indebtedness, including additional indebtedness that may be incurred in connection with 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 Media Contact
Ryan Wells
+1 646 648 3887
ryan.wells@nasdaq.com

-NDAQF-

FAQ

What did Nasdaq announce on June 22, 2021?

On June 22, 2021, Nasdaq announced that it obtained regulatory approvals for the sale of its U.S. fixed income business to Tradeweb Markets.

When is the closing date for the Nasdaq Fixed Income sale?

The closing date for the sale of Nasdaq Fixed Income to Tradeweb is expected to be around June 25, 2021.

What are the implications of Nasdaq selling its fixed income business?

The sale allows Nasdaq to concentrate on its core operations and may alter its financial landscape, impacting stock performance.

What risks are associated with the Nasdaq Fixed Income transaction?

Risks include the ability to complete the transaction on time, potential negative effects on Nasdaq's stock price, and unforeseen liabilities.