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Revitalizing the Capital Markets

Nasdaq’s blueprint for revitalizing the U.S. capital markets will create a vibrant ecosystem that delivers enhanced capital formation opportunities, a more inviting environment for growth and innovation, and accelerated job formation and wealth creation.

Proposals for Reforming Capital Markets

Nasdaq's commitment to capital markets reform includes specific proposals outlined in the documents below. 

Specifically, Nasdaq is promoting legislative and policy reforms for Market Structure, Proxies, Litigation, Taxes, Long-Termism, and the Choice Act.

Featured: Nelson Griggs, President of the Nasdaq Stock Exchange

Wealth creation and job growth depend on more companies going public

Revitalize Markets: Wealth creation and job growth depend on more companies going public. Let's revitalize our capital markets.

Regulatory Framework

Reconstructing the Regulatory Framework

Regulations enacted during and in the immediate aftermath of the 2008 financial crisis accomplished some important goals, but nearly a decade later, there is broad agreement that our regulatory patchwork is outdated and, in some cases, arbitrary.

Nasdaq proposes solutions such as reforming the proxy proposal process to reduce the burden on companies, and comprehensive tax and litigation reform. All of these steps will free up resources so that companies can focus on innovation, growth, and job creation, rather than on red tape and unnecessary distractions.

Market Structure

Modernizing Market Structure

In recent years, U.S. equities markets have benefited from enormous technological advances. However, the regulatory infrastructure upon which our markets are built has not kept pace.

Technology gives us new tools to make markets work better. We need to consolidate liquidity for lower-volume issuers, allow for flexible tick sizes, and consider a broad range of updates that would bring our markets into the 21st century.


Promoting Long-Termism

One of the greatest threats to modern markets is the rising pressure to think and plan around the trading day and quarterly report, rather than to invest in sustainable long-term growth and profits. The rise of short-termism harms companies, investors, and the broader U.S. economy.

In addition to increasing the flexibility of reporting obligations, Nasdaq supports enhancing transparency around activist investing, equalizing short interest transparency, and we continue to believe that dual class structure is critical to attracting the most innovative and growing companies to participate in public markets

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