Navigate this market better. Subscribe for FREE stock alerts and information.

Tuesday, January 29, 2013

Nasdaq combines global data and index businesses, (NASDAQ: NDAQ)

Nasdaq OMX Group Inc said on Tuesday it was combining its global data and index businesses as the trans-Atlantic exchange operator continues to reposition itself to be a bigger player in technology services, a move aimed at boosting non-transaction-based revenues.John Jacobs will head the new global information services unit, which Nasdaq said will enable it to increase sales through a clearer focus on new product development. Jacobs was formerly Nasdaq's head of indexing and chief marketing officer."Combining these business areas allows us to better take advantage of the sweet spot they inherently both share: distribution of data and the delivery of innovative products that provide market insight and transparency," Bob Greifeld, Nasdaq's chief executive, said in a statement.He said Nasdaq's goal is to become one of the top information providers in the global financial services industry. Competitors in that area include SunGard and Fidessa.

The NASDAQ OMX Group, Inc. (NASDAQ OMX) is a holding company. Shares of NDAQ traded higher by 0.68% or $0.19/share to $27.97. In the past year, the shares have traded as low as $21.03 and as high as $27.91. On average, 1337690 shares of NDAQ exchange hands on a given day and today's volume is recorded at 786655.