Nasdaq Inc
NDAQ: XNAS (USA)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| $63.00 | Wwfjxt | Hwprxjmwz |
Nasdaq Benefits From Strong Volume as It Reimagines Itself as a Diversified Technology Company
Business Strategy and Outlook
Strong performance at Nasdaq’s exchange business persisted in, as higher market volatility and increased retail interest in equity markets has proven surprisingly durable, particularly in equity options. While we expect retail trading to normalize over time, the increased prevalence of $0 commission trading platforms should continue to provide a modest tailwind to trading volume. However, the equity exchange business remains highly competitive, and two new exchanges were launched in 2020, Members Exchange and the MIAX Pearl Equities Exchange, adding to the competitive pressure Nasdaq faces. Additionally, Nasdaq has seen continued pushback from clients and regulators on the pricing of its market data products.