Exchange operator Nasdaq Inc. (NDAQ.O) plans to set up a venture capital arm to invest in financial technology companies that can help grow its own businesses.
Nasdaq is best known for running stock exchanges around the globe, but it is also one of the largest providers of technology to other exchanges and companies involved with trading.
A venture arm would formalize some of the investing Nasdaq has already been doing in early-stage financial-technology companies. It was one of the earliest supporters of blockchain, a record-keeping tool that some expect will fundamentally change the cost, speed and accuracy of trading.
Nasdaq’s current investments include San Francisco-based blockchain startup Chain.com and artificial-intelligence company Digital Reasoning.
Source: Reuters (9 Feb 2017)
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