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☆ Nasdaq divides business into three units to streamline operations
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +2 min

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. It said Market Platforms, Capital Access Platforms and Anti-Financial Crime will be the new units that will focus on digital assets, carbon markets, providing investment intelligence apart from U.S. equities. Register now for FREE unlimited access to Reuters.com RegisterNasdaq's efforts to streamline its operations come after the sector, which largely catered to stocks and derivatives, underwent an upgrade as cryptocurrencies gained popularity. Last week, Nasdaq launched a digital assets business that places it in a direct competition with crypto exchanges Binance and Coinbase Inc (COIN.O). Register now for FREE unlimited access to Reuters.com RegisterReporting by Mehnaz Yasmin in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ The public cloud is changing how Wall Street works. Here's how the tech is upending everything from trading to dealmaking.
▼ + stars: | 2022-02-23 | by ( Bianca Chan | ) www.businessinsider.com time to read: +13 min

Cloud technology has now percolated through nearly every nook and cranny of Wall Street, affecting everything from investment banking to risk management and marketing. What's motivated the recent trend stems from two things that typically elicit change at financial firms: saving money and moving faster. But at least 30 Wall Street firms and well-known fintechs have publicly sided with one provider as a primary partner. "If you look at Wall Street, they have tens of thousands of people in back offices. Take Citibank, which accidentally wired $900 million to Revlon lenders in what is considered one of the largest blunders ever on Wall Street.

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