Nasdaq, Inc. operates as a technology company that serves capital markets and other industries worldwide. The Market Technology segment includes anti financial crime technology business, which offers Nasdaq Trade Surveillance, a SaaS solution for brokers and other market participants to assist them in complying with market rules, regulations, and internal market surveillance policies; Nasdaq Automated Investigator, a cloud-deployed anti-money laundering tool; and Verafin, a SaaS technology provider of anti-financial crime management solutions. This segment also handles assets, such as cash equities, equity derivatives, currencies, interest-bearing securities, commodities, energy products, and digital currencies. The Investment Intelligence segment sells and distributes historical and real-time market data; develops and licenses Nasdaq-branded indexes and financial products; and provides investment insights and workflow solutions. The Corporate Platforms segment operates listing platforms; and offers investor relations intelligence and governance solutions. As of December 31, 2021, it had 4,178 companies listed securities on The Nasdaq Stock Market, including 1,632 listings on The Nasdaq Global Select Market; 1,169 on The Nasdaq Global Market; and 1,377 on The Nasdaq Capital Market. The Market Services segment includes equity derivative trading and clearing, cash equity trading, fixed income and commodities trading and clearing, and trade management service businesses. This segment operates various exchanges and other marketplace facilities across various asset classes, which include derivatives, commodities, cash equity, debt, structured products, and exchange traded products; and provides broker, clearing, settlement, and central depository services. The company was formerly known as The NASDAQ OMX Group, Inc. and changed its name to Nasdaq, Inc. in September 2015. Nasdaq, Inc. was founded in 1971 and is headquartered in New York, New York.

Nasdaq, Inc.

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Assets	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Cash and Cash Equivalents	470	732	690	592	266	416
Cash and Cash Equivalents
Short-Term Investments	53	84	201	184	202	960
Financial Investments
Total Cash and Cash Equivalents	523	816	891	776	468	1,376
Accounts Receivable	865	896	986	1,022	944	174
Receivables, Net
Total Trade Receivables	865	896	986	1,022	944	174
Other Current Assets	6,209	5,640	5,941	5,988	6,146	5,759
Restricted Cash and Cash Equivalents
Default Funds and Margin Deposits
Deferred Tax Assets
Other Current Assets
Assets Held for Sale
Total Current Assets	7,597	7,352	7,818	7,786	7,558	7,309
Total Current Assets
Net Property, Plant & Equipment	1,129	1,097	1,002	968	972	956
Property and Equipment, Net
Operating Lease Assets
Net Intangible Assets	6,620	6,741	6,830	6,905	7,072	7,171
Intangible Assets, Net
Goodwill	14,336	14,328	14,179	13,957	14,165	13,984
Goodwill
Other Long-Term Assets	972	865	818	779	793	790
Non-Current Deferred Tax Assets
Deferred Tax Assets
Other Non-Current Assets
Total Assets	30,654	30,383	30,647	30,395	30,560	30,210
Total Assets

Liabilities	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Accounts Payable	256	246	255	269	289	301
Accounts Payable and Accrued Expenses
Accrued Expenses	313	280	198	325	314	213
Accrued Personnel Costs
Short-Term Debt	431	500	400	399	499	548
Short-Term Debt
Unearned Revenue	719	848	981	711	663	736
Deferred Revenue
Other Current Liabilities	5,986	5,783	6,137	6,198	6,168	5,993
Section 31 Fees Payable to SEC
Other Current Liabilities
Deferred Tax Liabilities
Default Funds and Margin Deposits
Liabilities Held for Sale
Total Current Liabilities	7,705	7,657	7,971	7,902	7,933	7,791
Total Current Liabilities
Long-Term Debt	8,667	8,678	8,926	9,081	9,359	9,249
Long-Term Debt
Leases	454	453	393	388	399	409
Operating Lease Liabilities
Other Long-Term Liabilities	1,798	1,777	1,802	1,824	1,788	1,853
Deferred Tax Liabilities
Deferred Tax Liabilities, Net
Non-Current Deferred Revenue
Other Non-Current Liabilities
Total Long-Term Liabilities	10,919	10,908	11,121	11,293	11,546	11,511
Total Liabilities	18,624	18,565	19,092	19,195	19,479	19,302
Total Liabilities

Equity	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Common Stock	6	6	6	6	6	6
Common Stock
Treasury Stock	-710	-706	-672	-647	-643	-641
Common Stock in Treasury, at Cost
Additional Paid-in Capital	5,351	5,425	5,450	5,530	5,477	5,528
Additional Paid-in Capital
Accumulated Other Comprehensive Income	-1,847	-1,869	-1,896	-2,099	-1,952	-2,011
Accumulated Other Comprehensive Loss
Retained Earnings	9,223	8,955	8,658	8,401	8,184	8,016
Retained Earnings
Total Common Shareholders' Equity	12,023	11,811	11,546	11,191	11,072	10,898
Total Nasdaq Stockholders' Equity
Minority Interests and Other	7	7	9	9	9	10
Noncontrolling Interests
Total Shareholders' Equity	12,030	11,818	11,555	11,200	11,081	10,908
Total Equity
Total Liabilities and Shareholders' Equity	30,654	30,383	30,647	30,395	30,560	30,210
Total Liabilities and Equity