Nasdaq, Inc. (NDAQ) Morgan Stanley US Financials Convention 2026 June 9, 2026 8:15 AM EDT
Firm Individuals
Tal Cohen – President
Convention Name Individuals
Michael Cyprys – Morgan Stanley, Analysis Division
Presentation
Michael Cyprys
Morgan Stanley, Analysis Division
Good morning, everybody. Thanks for staying with us right here. I am Mike Cyprys, fairness analyst protecting brokers, asset managers and exchanges for Morgan Stanley Analysis. And it is my pleasure to welcome Tal Cohen, President of Nasdaq, main our Market Providers and Monetary Know-how divisions. Tal, thanks for becoming a member of us.
Tal Cohen
President
Sure. Thanks for becoming a member of us. I am blaming the sparse crowd on the Knicks recreation final evening. Some individuals simply — they have been they could not make it.
Michael Cyprys
Morgan Stanley, Analysis Division
Nicely, they’re coming in right here now. So the door is open there. In order lots of Nasdaq to be a worldwide change operator, however in recent times, Nasdaq has been remodeling the enterprise by a sequence of acquisitions to develop into a know-how and platform supplier, to serve corporates, funding managers and monetary establishments as they navigate and work together with the worldwide capital markets and the broader monetary system. And we’re thrilled to have Tal with us right here to debate the transformation.
Query-and-Reply Session
Michael Cyprys
Morgan Stanley, Analysis Division
I assumed we would begin off speaking on the Markets division right here and the broader market backdrop, which we have seen a robust begin to the 12 months throughout your — and the business’s money equities, choices, helped by volatility, retail engagement development and short-dated choices, which we’ll dive into within the coming questions. So are you able to discuss how Nasdaq is seeing what you are seeing to this point when it comes to April, Could, early June, speaking concerning the exercise you are seeing. How a lot of this feels, would you say, cyclical versus extra structural? And the way you are fascinated with quantity development seize and market share from right here?
