Nasdaq Melds Data, Index Divisions
Nasdaq OMX is to combine its Global Data Products and Global Index business areas into a new business division, dubbed Global Information Services, which will represent about 20 percent of the exchange group's total revenues.
(Nasdaq OMX will report fourth-quarter and full-year 2012 revenues this Thursday, Jan. 31. For full-year 2011, Nasdaq reported total revenues of $2.886 billion, and net revenues of $1.69 billion after rebates, brokerage, clearing and exchange fees.)
Officials say the move will support better product development and expand both product sets' reach by leveraging each other's technology investments "to deliver more data and indexes faster, across more asset classes, and at lower cost," says John Jacobs, formerly executive vice president of the Global Index group and chief marketing officer, who has been appointed head of the new division.
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