Record IPO Quarter Boosts Capital Access Platforms
Nasdaq welcomed seven of the 10 largest operating company IPOs on U.S. exchanges, including SpaceX (the largest IPO in history at $86B in offering proceeds), setting a quarterly record with 26 operating company IPOs raising over $105B and a 74% win rate. This drove Capital Access Platforms segment revenue up 19.4% YoY to $621M for the quarter.
Index Business Crosses $1.0 Trillion AUM Milestone
The Index business generated $109B in net inflows over the trailing twelve months (including $51B in Q2 alone), with end-of-period and average ETP AUM both exceeding $1.0 trillion for the first time ever ($1,114B ending balance vs. $745B prior year). Index segment revenue grew 38.4% YoY to $271M, aided by a $6M one-time contract modification benefit.
Financial Technology Delivers Double-Digit Growth Across All Subdivisions
Financial Technology segment revenue grew 16.3% YoY to $539M with 16% ARR growth, marking the second consecutive quarter of double-digit growth in every subdivision (Financial Crime Management +21.6%, Regulatory Technology +15.2%, Capital Markets Technology +15.1%). The company signed 58 new clients, 7 cross-sells, and 107 upsells during the quarter.