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    A Comprehensive Resource Hub

    U.S. Equities Market Structure and Policy

    Welcome to the Nasdaq U.S. Equities Market Structure Policy Hub, your go-to resource for Nasdaq's viewpoints on the evolving structure of U.S. Equity Markets.

    Continued Advocacy for Evolving U.S. Equity Markets

    Market Modernization

    As a technology company that is redefining capital markets, we continuously advocate for market health and modernization – driving growth and capital formation today while paving the way for future market modernization.
    Here, you can delve into the complexities of market structure and discover how technology continually shapes capital markets.

    It’s our job—collectively as an industry—to continue to debate what will work best for the markets and foster positive change and innovation to modernize and drive the global economy, while ensuring our markets provide robust price discovery, liquidity and resiliency for all investors.

    Chuck Mack

    Chuck Mack is Vice President, Head of Strategy & Market Structure for North American Markets. He’s responsible for strategic direction for the businesses in North America as well as public policy and capital allocation.

    Spotlight on Market Policies

    When it comes to policy-making, understanding the implications is critical. View our latest insights as we demystify intricate regulatory issues with data-driven analysis and share our views and recommendations to help shape equity markets today and tomorrow.

    2023

    Equity Market Structure Proposals

    2023

    Volume Based Tiers Proposal

    2022

    Optimizing Markets

    Timeline

    Our Journey Towards Optimizing Markets and Initiatives

    The market is moving. Subscribe to Market Makers for the latest insights.

    The global economy is changing faster than ever before.


    Market Makers, authored by Nasdaq Chief Economist Phil Mackintosh, provides deep insights and analysis on the transformative forces shaping the global economy, delivered every Thursday. Each week we examine the biggest influences disrupting and driving the global markets — from industry-shaping technology and trends to evolving policies, market-moving IPOs and beyond. 

     

    Phil Mackintosh

    Phil Mackintosh

    Senior Vice President, Nasdaq Chief Economist

    Nasdaq Review of SEC Market Structure Proposals Webinar

    Explore our perspective on the SEC's market structure proposals. We believe in data-driven dialogues and recommendations to ensure a balanced evolution to our complex markets and ecosystems that preserves the robustness of U.S. Equity markets without causing unintentional harm or potential disruptions.

    Resources

    September 17, 2024

    Tick Sizes Are A Trade-off

    March 30, 2023

    Letter to the Commission

    March 30, 2023

    WSJ: The SEC Tries to Do Too Much, Too Fast

    February 13, 2023

    A Data-Driven Summary of the SEC’s New Proposals

    March 16, 2023

    The Economics of Tick Regimes

    March 2, 2023

    Research on What Ticks Make Spreads Trade Best

    Public Policy Advocacy

    Nasdaq's Public Policy Advocacy Team works daily to stay abreast of legislative and regulatory actions taking place in Washington, DC, Brussels, and other world capitals. We have a strong history of working on the issues that affect public companies, having fought alongside our companies on issues such as capital formation, stock option accounting, Sarbanes-Oxley, immigration reform, legal reform, taxes, and many others.

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    North American Markets

    From breaking barriers as the first electronic stock exchange, to regularly eclipsing records for average daily volume (ADV) share, Nasdaq's North American markets give trading industry participants access to diverse and transparent liquidity in the equity and equity derivatives markets.

    From breaking barriers as the first electronic stock exchange, to regularly eclipsing records for average daily volume (ADV) share, Nasdaq's North American markets give trading industry participants access to diverse and transparent liquidity in the equity and equity derivatives markets.

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    Modernization & the Role of the Exchange

    Operating 18 markets across North America, the Nordics and the Baltics, as well as a technology provider to more than 130 marketplaces globally, Nasdaq sits at the center of capital markets, technology and regulation. We have a unique vantage point that informs our views on the evolution of markets.

    Operating 18 markets across North America, the Nordics and the Baltics, as well as a technology provider to more than 130 marketplaces globally, Nasdaq sits at the center of capital markets, technology and regulation. We have a unique vantage point that informs our views on the evolution of markets.

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