Nasdaq Teams With Citi, Other Banks on Private-Stock Marketplace

Nasdaq Teams With Citi, Other Banks on Private-Stock Marketplace

(Bloomberg) -- Nasdaq Inc. formed a joint venture with Citigroup Inc., Goldman Sachs Group Inc. and Morgan Stanley to establish a trading venue for shares of closely held companies.

Nasdaq Private Market will be added to the new standalone company, which will also get strategic investments from the three Wall Street banks and SVB Financial Group, Nasdaq said in a statement Tuesday. The marketplace’s existing technology, client relationships and regulatory infrastructure will provide a foundation for the joint venture to offer liquidity for closely held companies, Nasdaq said.