Nasdaq President Nelson Griggs explains that the exchange's strict governance rules, managed by IASCO, have governed the NASDAQ 100 index (representing 830 billion in assets) for over a year, and that the exchange, along with competitors like NYSE and Russell, has adapted its rules to accommodate modern IPO companies with unprecedented scale and maturity, such as SpaceX, which represent a new category of companies that require different index eligibility criteria.
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Nasdaq responde a la NYSE y niega cambio de reglas para atraer OPI de SpaceXAdded:
This is NASDAQ President Nelson Griggs.
And to be fair, uh, Lynn Martin may be just a little bit bummed out. The NYC missed out on the SpaceX IPO. On the other hand, um, she's basically implying that you change the rules in order to attract them to NASDAQ. Is that the case?
>> No, not at all. We run those businesses very independent. There's very strict governing rules around indices. Uh, there's a group called IASCO that makes sure we follow very strict protocols. So we started this discussion well over a year ago and if you look at the complex of what's called the the the NDX the NASDAQ 100 franchise it's about 830 billion in assets under management. So it is a juggernaut. So when we think about the IPO market in general in companies we all know there's been a massive trend towards companies staying private longer. So you have a a whole different type of companies going public today. will reference SpaceX OpenAI anthropic ones being talked about. There are scale and size and maturity that we we have not seen in you know ever. So when you think about what the NASDAQ 100 is supposed to represent, it is going to be the 100 largest non-financial companies on NASDAQ. It's known as really the innovation economy. So previously prior to these rule changes, it could take up to a year getting that index. So let's say a company like SpaceX was on NASDAQ, they're not in the index. It doesn't really represent what the index is meant to be. So I think NASDAQ as well as Russell even New York Stock Exchange I believe changed their rules for fast entries.
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