Nasdaq Newsroom
In a year defined by growing complexity, Nasdaq helped build a more resilient, agile, and inclusive financial system helping to transform markets through modernization, unlock new opportunities within the innovation economy, and harness the power of data to drive sustainable growth.
We’re looking back at defining moments of 2025 where Nasdaq played a role in shaping the evolution of the markets and supporting economic progress around the world.
Including:
- Bringing Clarity to a Complex World:How Nasdaq supported the modernization of the financial system and catalyzed change across global markets.
- Innovating in the Fight Against Financial Crime:Nasdaq’s new partnerships & innovations that strengthened the industry’s defenses against financial criminals.
- Supporting a Pro-Growth Ecosystem: Nasdaq’s efforts advancing reforms that strengthened the transparency, risk management, and institutional resilience in the financial system.
- Leading on Listings: Highlights from our global listings leadership this year.
- Nasdaq Milestone Moments:Historic moments and influential partnerships in 2025.
Bringing Clarity to a Complex World
Over the past 50 years, the financial system has grown sixfold more complex due to factors like geopolitical uncertainty and increasing regulation. As these forces accelerate, the need for streamlined solutions that unlock efficiency, agility, and resilience has never been greater. Nasdaq’s Complexity Report, released this year in partnership with Boston Consulting Group (BCG), highlighted how financial institutions can bring clarity to complexity by embracing modern technology and systems‑based approaches.
In 2025, Nasdaq advanced its mission to help lead the shift from complexity to clarity with key initiatives that modernized the financial system and catalyzed change across global markets:
Paving the Road to Global Trading Hours
This year, Nasdaq announced that it had begun engaging with regulators, market participants and other key stakeholders with the view of enabling Global Trading Hours five days a week on the Nasdaq Stock Market. This shift would help broaden investor access, expand wealth-building opportunities, and redefine how markets function.
Nasdaq plans to make the new Global Trading Hours available by Q3 2026.
“The global growth of investor demand for U.S. equities means we stand at another pivotal moment for our markets – to broaden investor access, expand wealth-building opportunities, and redefine how markets function,” -Nasdaq President, Tal Cohen.
Hear the latest from Chuck Mack, Nasdaq’s SVP North American Markets.
The Proposal for Tokenized Securities
Economies thrive on innovation and participation, and those forces require market structures that reduce friction and align incentives. In September, Nasdaq submitted a filing to the U.S. Securities and Exchange Commission (SEC) to facilitate the trading of tokenized securities on its markets. The tokenization proposal represents a step forward in the evolution of global financial markets.
“Nasdaq is committed to being the trusted fabric of the global financial system, and doing so means changing with the markets and embracing new technologies in investor-first ways that foster capital formation. Ultimately what that means is that it comes down to choice. If investors and market participants express demand for a particular approach, and we can implement it in a way that preserves market integrity, then we want to give them that choice.”- Chuck Mack, Nasdaq’s Senior Vice President of North American Markets.
Read more on the Nasdaq Newsroom.
Modernizing the Financial System with AWS
This year, Nasdaq and Amazon Web Services (AWS)advanced their partnership with a modernization blueprint that is helping market operators future- proof their technology, data infrastructure, and intelligence.
With early collaboration from the JSE Johannesburg stock exchange, Mexico’s GRUPO BMV, and Nasdaq’s Nordic Markets, the initiative empowered operators to modernize at pace, enhance liquidity, and drive innovation.
In addition, Nasdaq’s Calypso capital markets and treasury management platform was made available as a fully‑managed, cloud-native service on AWS, marking a milestone in reimagining infrastructure as a service.
Together, Nasdaq and AWS deliver scalable, resilient, and interoperable solutions that reduce complexity and strengthen the financial system for the future.
Other key moments from 2025:
- Nasdaq Launched Eqlipse, the Fourth Generation of our Marketplace Technology | Link
- Thailand Securities Institute (TSI), The Stock Exchange of Thailand Launched New Trading System Leveraging Nasdaq Technology to Meet End-to-End Investment Needs | Link
- Nasdaq and nuam Partnered to Drive Capital Market Integration in Latin America | Link
- Nasdaq AxiomSL Expanded RegTech Deployment with Revolut, Accelerating Global Growth | Link
- The The Philippine Stock Exchange, Inc. (PSE) Adopted Nasdaq Eqlipse Trading to Enhance Market Infrastructure | Link
Innovating in the Fight Against Financial Crime
Financial crime is a multi‑trillion‑dollar epidemic that fuels human trafficking, elder abuse, terrorism, and more — exploiting society’s most vulnerable and threatening the integrity of our financial system. This year, Nasdaq Verafin led the fight with advanced technology, thought leadership, and partnership, recognizing that no single entity can solve this challenge alone.
In 2025, we forged new partnerships and introduced new innovations to strengthen defenses against financial criminals, including:
Tackling Financial Crime in Europe: The Release of Nasdaq's European Anti-Financial Crime Report
The threat of financial crime posed a $750 billion challenge to European financial systems this year, underscoring the complex linkages between innovation, regulation, and criminal adaptability. Nasdaq Verafin released a landmark report that illuminated how the unprecedented complexity of modern financial networks fueled global financial crime. The report estimated that nearly a quarter of the $3.1 trillion in illicit funds flowing through the international financial system in 2023 originated in Europe. It also called on European institutions to embrace collaboration and technology, highlighting the opportunity for the region to cement its position as a leader in financial crime prevention.
Read more and download the full report.
Nasdaq Verafin and BioCatch Partnered to Fight Financial Crime More Efficiently and Effectively
Nasdaq Verafin announced a strategic partnership with BioCatch to strengthen defenses against payments fraud. By combining Verafin’s fraud detection platform and consortium data with BioCatch’s behavioral intelligence, the partnership delivers modern solutions to help financial institutions act faster and safeguard consumers. Together, they are advancing the fight against one of the industry’s biggest challenges.
“Together, we shared a vision to leverage consortium data and behavioral insights as a force multiplier to create a true crime‑fighting network,” said Stephanie Champion, EVP and Head of Nasdaq Verafin
Hear from Stephanie Champion, EVP and Head of Financial Crime Technology at Nasdaq Verafin
Nasdaq Verafin Brings Agentic AI to the Fight Against Financial Crime
Nasdaq Verafin launched its Agentic AI Workforce in 2025, transforming how institutions manage anti-money laundering compliance. By automating high‑volume, low‑value tasks, these AI‑powered digital workers free analysts to focus on higher‑value work, building on the success of Verafin’sgenAIEntity Research copilot adopted by more than 1,300 clients.
Supporting a Pro-Growth Ecosystem
As the leading technology platform powering the world’s economies, Nasdaq remained committed to shaping policy frameworks that foster growth, innovation, and opportunity across the globe. Guided by our role in architecting modern markets, powering the innovation economy, and building trust in the financial system, we brought forward insights to help create a financial system that is resilient, innovative, and trusted for all participants.
Drawing on decades of industry expertise in capital formation, market infrastructure, innovation ecosystems, financial crime prevention, and regulatory modernization, we helped simplify complexity and advance reforms that strengthen transparency, risk management, and institutional resilience.
Some key moments included:
Nasdaq Chair and CEO Adena Friedman and SEC Chairman Paul S. Atkins Discussed Making IPOs Great Again
SEC Chairman Paul S. Atkins joined Nasdaq Chair and CEO Adena Friedman in December 2025 for a fireside chat celebrating 250 years of the United States and discussing the future of American markets. Together, they emphasized reducing regulatory complexity, revitalizing IPOs, and making public markets more accessible for growing companies.
Read more and watch the replay.
Hear from Nasdaq Chair and CEO, Adena Friedman.
Nasdaq’s Foundational Report on Strengthening the U.S. Public Markets
In March, Nasdaq released its 2025 Advancing the U.S. Public Markets for a Stronger American Economy report, which highlighted the decline in public company listings and the rise of private equity‑backed firms. The report outlined critical reforms to strengthen the public market ecosystem, enhance America’s global competitiveness, and ensure capital markets remained the standard for innovation and wealth creation.
Other notable moments:
- Adena Friedman Joined an U.S. Securities and Exchange Commission and U.S. Commodity Futures Trading Commission Roundtable | Link
- Nasdaq Released a Digital Assets Comment Letter | Link
- Nasdaq Released a Banking White Paper | Link
Listings Leadership
Public markets remain the foundation of the American economy. As the geopolitical landscape shifts, Nasdaq stands at the heart of the world’s most dynamic and innovative economies—serving as the vital bridge that connects breakthrough ideas with investment capital. We deliver the infrastructure, investment products, and data-driven insights that empower innovators to scale and investors to allocate with clarity and confidence.
This year, against a backdrop of heightened global volatility, rapid technological transformation, and a broad secular rotation in equities, Nasdaq proved to be a resilient engine of growth. We drove capital formation, strengthened market connectivity, and provided trusted pathways for companies, investors, and markets to thrive together.
A few key moments include:
Nasdaq Extends Over a Decade of Listings Leadership
In 2025, Nasdaq raised a total of $46.65 billion, marking the strongest year for new listings and capital raised since 2021. In addition, 22 companies transferred their corporate listings to Nasdaq in 2025 including Walmart, the largest exchange transfer in history. Since 2005, companies transferring their listing to Nasdaq have represented more than $4 trillion in total market value.
Hear more from Jeff Thomas, Nasdaq’s EVP & Global Head of Listings.
Driving Market Leadership and Innovation in Europe
Nasdaq Europe closed 2025 with record listings, product innovation, and strengthened capital markets infrastructure across its seven Nordic and Baltic exchanges. This year, Nasdaq Europe welcomed the largest IPO on the continent, Verisure. More than half of all European IPO capital was raised on Nasdaq platforms, while trading volumes in cash equities and equity derivatives rose 11% and 5% year‑on‑year. The Nasdaq Nordic corporate bond market reached a record €1.2 trillion, and retail investor activity exceeded 12%, underscoring the depth and diversity of Europe’s trusted financial system.
Hear from Roland Chai, Head of Nasdaq Europe Market Services
Deepening Our Commitment to Texas
This November, Nasdaq rang the closing bell at the Permian Basin Cook‑Off and announced its intent to launch Nasdaq Texas. The new dual listing venue is designed to bring Nasdaq’s full platform capabilities to companies aligned with the state’s pro‑growth policies, reinforcing its commitment to Texas’ continued growth and innovation leadership.
Earlier this year, Nasdaq hosted an event with Governor Greg Abbott and presented Nasdaq’s first Lifetime Achievement Award to celebrate the legacy of Ross Perot Jr and honor Texas' vibrant innovation ecosystem. Nasdaq's Adena Friedman, Rachel Racz, Edward Knight and more honored the leaders, entrepreneurs, and innovators that call Texas home. Nasdaq is proud to have supported the state's growth for nearly two decades and is committed to Texas' continued economic prosperity.
Other moments:
Nasdaq Milestone Moments
As we wrap up 2025, we are also celebrating historic moments and influential partnerships from the year including:
40 Years of the Nasdaq-100 Index
In 2025, the Nasdaq‑100® celebrated its 40th anniversary, cementing its role as the world’s leading large‑cap growth index. With over $500B in exchange‑traded products and availability across six continents, the index continues to embody innovation, resilience, and global impact.
Nasdaq Partnering with Mercedes‑AMG PETRONAS Formula One Team
Nasdaq entered into a multi‑year brand partnership with the Mercedes-AMG PETRONAS Formula One Team, uniting two global leaders in performance and precision. The collaboration underscored Nasdaq’s deep commitment to innovation and the companies that champion it.
“Together we will accelerate growth for our respective organizations while we create exceptional experiences for fans of the sport,” said Adena Friedman, Chair and CEO of Nasdaq.
Looking Ahead
As we turn to 2026, Nasdaq is committed to leading with clarity and continuing to expand access to economic opportunities globally. We look forward to propelling a new era of inclusive economic growth and prosperity across the world.
Keep up with all the latest news and insights from Nasdaq on the Nasdaq Newsroom.
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