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Nasdaq (NDAQ) Ties Up With PureStream, Offers Execution Platform
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Nasdaq, Inc. (NDAQ - Free Report) has teamed up with PureStream Trading Technologies Inc. to power the latter’s new PureStream alternative trading system (ATS) via the Nasdaq Execution Platform.
Founded in 2018, the NY-based PureStreamTrading Technologies is the world’s first trading venue that prioritizes and matches orders based on liquidity relevance with a focus on improving cross rates and order completion speed. PureStream is a technology platform company with a singular focus on making institutional trading scale efficiently and securely.
Per the deal, Nasdaq will host the PureStream ATS on its Nasdaq Execution Platform, which will include system operation management, portions of risk controls, venue surveillance, trade reporting and facilitation clearance. This technology will boost flexibility. It will also enable PureStream to integrate new applications and functionalities as the company widens its platform.
In this partnership, PureStream will leverage market operating experience and the technological scale of Nasdaq to effectively manage its internal marketplace. The PureStream-Nasdaq tie-up will aid in expense reduction and provide opportunities for more revenue-generating activities.
Nasdaq’s Market Technology segment focuses on developing new technology solutions to protect capital markets from the risks associated with market volatility. Hence, the new partnership will further improve the business.
The Market Technology business of Nasdaq is a leading global technology solutions provider and partner of exchanges, clearing organizations, central securities depositories, regulators, banks, brokers, buy-side firms and corporate businesses. It provides technology solutions for trading, clearing, settlement, surveillance and information dissemination from the leading markets in the United States, Europe and Asia to the emerging markets in the Middle East, Latin America, and Africa.
Therefore, the partnership with PureStream Trading Technologies will boost the Market Technology business of Nasdaq.
Shares of this currently Zacks Rank #3 (Hold) stock have rallied 58.9% in the past year, outperforming the industry’s increase of 55.3%. Solid fundamentals should help the stock retain the momentum.
Earnings of OTC Markets surpassed estimates in three of the last four quarters (missed in the other one), the average earnings surprise being 11.96%.
The bottom line of International Money Express surpassed estimates in each of the last four quarters, the average being 11.92%.
Repay Holdings’ earnings surpassed estimates in each of the last four quarters, the average being 50.35%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
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Nasdaq (NDAQ) Ties Up With PureStream, Offers Execution Platform
Nasdaq, Inc. (NDAQ - Free Report) has teamed up with PureStream Trading Technologies Inc. to power the latter’s new PureStream alternative trading system (ATS) via the Nasdaq Execution Platform.
Founded in 2018, the NY-based PureStreamTrading Technologies is the world’s first trading venue that prioritizes and matches orders based on liquidity relevance with a focus on improving cross rates and order completion speed. PureStream is a technology platform company with a singular focus on making institutional trading scale efficiently and securely.
Per the deal, Nasdaq will host the PureStream ATS on its Nasdaq Execution Platform, which will include system operation management, portions of risk controls, venue surveillance, trade reporting and facilitation clearance. This technology will boost flexibility. It will also enable PureStream to integrate new applications and functionalities as the company widens its platform.
In this partnership, PureStream will leverage market operating experience and the technological scale of Nasdaq to effectively manage its internal marketplace. The PureStream-Nasdaq tie-up will aid in expense reduction and provide opportunities for more revenue-generating activities.
Nasdaq’s Market Technology segment focuses on developing new technology solutions to protect capital markets from the risks associated with market volatility. Hence, the new partnership will further improve the business.
The Market Technology business of Nasdaq is a leading global technology solutions provider and partner of exchanges, clearing organizations, central securities depositories, regulators, banks, brokers, buy-side firms and corporate businesses. It provides technology solutions for trading, clearing, settlement, surveillance and information dissemination from the leading markets in the United States, Europe and Asia to the emerging markets in the Middle East, Latin America, and Africa.
Therefore, the partnership with PureStream Trading Technologies will boost the Market Technology business of Nasdaq.
Shares of this currently Zacks Rank #3 (Hold) stock have rallied 58.9% in the past year, outperforming the industry’s increase of 55.3%. Solid fundamentals should help the stock retain the momentum.
Stocks to Consider
Some better-ranked stocks from the finance sector are OTC Markets Group Inc. (OTCM - Free Report) , International Money Express, Inc. (IMXI - Free Report) and Repay Holdings Corporation (RPAY - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Earnings of OTC Markets surpassed estimates in three of the last four quarters (missed in the other one), the average earnings surprise being 11.96%.
The bottom line of International Money Express surpassed estimates in each of the last four quarters, the average being 11.92%.
Repay Holdings’ earnings surpassed estimates in each of the last four quarters, the average being 50.35%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>