NASDAQ CEOs position onChina stock IPO: Treat it with an open attitude

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 NASDAQ CEOs position onChina stock IPO: Treat it with an open attitude


Friedman admits that from the operators point of view, she prefers Nasdaq to be seen as a soil of opportunity and hope.

The good news is that the Trump government withdrew that statement, which means that restrictions on the proposed shares are not considered. NASDAQ CEO Adena Friedman said today.

Bloomberg reported in early October that the White House was considering dissuading Chinese shares from the U.S. Stock Exchange to limit U.S. investorsinvestment in Chinese companies. Influenced by this news, China stock market fell sharply, Alibaba, Jingdong, Huanju era and other Chinese stock market fell more than 5%, more than 10% in Ulai Automobile, Tiger Teeth Live Broadcast and other Chinese stock market.

After the above information was reported, Nasdaq responded quickly, saying that it provided non-discrimination and fair access to all listed companies.

Keep the Soil Open and Fair

It is worth noting that with the re-examination of the proposed shares incident continues to ferment, the attitude of the White House has changed, it seems that there is a withdrawal move. Peter Navarro, the White House trade adviser, took the lead in saying that recent reports that the United States is considering restricting Chinese companies are very inaccurate. Monica Crowley, a spokeswoman for the U.S. Treasury Department, also said, At present, the U.S. government has not considered preventing Chinese companies from listing on the U.S. Stock Exchange.

Friedman admits that from the operators point of view, she prefers Nasdaq to be seen as a soil of opportunity and hope, hoping to provide opportunities for many small companies in the world to reach out to American investors. Friedman said that the key to the Nasdaq market is to provide non-discriminatory and fair access to all listed companies, which is the basis for Nasdaq to create a dynamic market and provide diversified investment opportunities for U.S. investors.

In addition, from the commercial and economic point of view of the United States, Friedman believes that listed companies should be treated with an open attitude. There are many very powerful capital markets in the world. Therefore, if Chinese companies can no longer enter the U.S. market, they may go to London for listing, or return to China or choose Hong Kong for listing. Keeping an open attitude not only benefits our economic interests, but also ensures that Nasdaq and the United States remain the most resilient and dynamic capital markets in the world. Federman said.

It is worth noting that although the stock market has not been de facto ordered to withdraw, but the queue listing of the stock market is facing tighter audit. An attorney who handled several Chinese stock IPOs told First Financial Journalist that he could clearly feel the threshold of auditing has been raised in the near future. Nasdaq not only asked more detailed questions, but also had a relatively longer audit time, said the lawyer. In fact, companies with the idea of listing in the United States often exchange information with each other. After finding the roadblock, many companies said they would take a wait-and-see attitude for the time being.

Data show that as of October 2019, Nasdaq had raised $27 billion. However, in recent years, after many companies went to Nasdaq for listing, the stock price broke, some of which are Chinese stocks. Therefore, some investors began to question whether the quality of listed companies has passed the customs, or Nasdaq began to relax the auditing standards of listed companies.

In this regard, Federman said that the foundation and symbol of a companys success does not lie in whether the stock price performance is excellent in the initial stage of listing. She admits that the success of a listed company is not determined by the stock price performance on the first day, the first month or the first quarter. According to Friedman, the success of a listed company is to provide value to its customers and shareholders by building a business model with a promising future.

Is encrypted currency an enemy or a relative?

Nasdaqs openness is also reflected in the encrypted currency. In recent years, Nasdaq has made many moves in digitalization.

In July, shareholders of Cinnober, a trading and liquidation technology provider, accepted Nasdaqs $220 million acquisition offer. In a statement, Nasdaq said it would control 98.2% of Cinnobers shares after a majority approval. Cinnober provides switching and liquidation technology solutions, and recently entered the field of encrypted currency through cooperation with BitGo, an expert on encrypted currency security, to provide technical solutions for operators of encrypted transactions to cope with the increasing volume of transactions. Some analysts believe that through this acquisition, Nasdaq can acquire Cinnobers digital currency trusteeship technology to pave the way for the development of digital currency trading business.

When asked today about his attitude to encrypted money, Federman showed an open mind. First of all, I think the technology that supports block chains is actually very interesting, and we are looking at how these digital elements can be added to the latest infrastructure of exchanges. But Federman also said that the technology is still relatively young for the moment. Whether the encrypted currency can be used in daily stable applications and whether exchanges can use this new technological innovation to make the global economy work faster and better still needs to be repeatedly verified. In fact, as early as 2015, Nasdaq began to explore the application of block chain technology, and successively developed Linq, an equity trading platform based on block chain technology, and ChainCore, a block chain platform launched by United Citigroup. The two results were applied to private equity trading and automatic processing of global payments. In April 2018, Nasdaq announced a partnership with Gemini, the Bitcoin trading platform, in which SMARTS surveillance technology will monitor all digital assets of the Gemini platform. NASDAQ CEO Adner Friedman clearly pointed out that when the time was ripe, NASDAQ could become a platform for digital currency transactions such as Bitcoin. Source: First Financial Responsible Editor: Wang Fengzhi_NT2541

When asked today about his attitude to encrypted money, Federman showed an open mind. First of all, I think the technology that supports block chains is actually very interesting, and we are looking at how these digital elements can be added to the latest infrastructure of exchanges. But Federman also said that the technology is still relatively young for the moment. Whether the encrypted currency can be used in daily stable applications and whether exchanges can use this new technological innovation to make the global economy work faster and better still needs to be repeatedly verified.

In fact, as early as 2015, Nasdaq began to explore the application of block chain technology, and successively developed Linq, an equity trading platform based on block chain technology, and ChainCore, a block chain platform launched by United Citigroup. The two results were applied to private equity trading and automatic processing of global payments.

In April 2018, Nasdaq announced a partnership with Gemini, the Bitcoin trading platform, in which SMARTS surveillance technology will monitor all digital assets of the Gemini platform. NASDAQ CEO Adner Friedman clearly pointed out that when the time was ripe, NASDAQ could become a platform for digital currency transactions such as Bitcoin.