Nasdaq Plans to Fight Financial Crime With AI Technology
In Brief
Nasdaq enhanced its anti-crime offerings by incorporating AI to predict criminal behavior, to remove bad actors within financial industry.
American stock exchange Nasdaq is enhancing its anti-crime offerings by incorporating artificial intelligence (AI). AI has the capacity to predict and accelerate the identification of criminal behavior, aiding in the removal of bad actors within the industry.
Nasdaq is actively supporting technology aimed at preventing financial crimes, responding to an increasing demand to thwart sophisticated malicious actors in the financial sector. The company is collaborating with banks, other exchanges and brokerage firms, providing them with the software necessary to effectively eliminate potential threats, thereby enhancing overall security measures.
Nasdaq’s Chief Executive Officer, Adena Friedman, stated that the company is making substantial investments in the AI, highlighting a significant commitment to incorporating advanced solutions. “We are investing in the technology in a very significant way,” she stated.
Paving the Way for Secure Market Environment in 2024
Nasdaq along with several other exchanges, has submitted filings to list the recently approved spot Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC).
After receiving approval from the SEC, the eagerly awaited products are set to make their debut on US markets operated by the NYSE, Cboe Global Markets and Nasdaq. It is expected that liquidity offered by the significant trading firms will facilitate the launch.
The products will enable nearly any retail customer to access exposure to the price of Bitcoin through their conventional brokerage apps and accounts. Additionally, they will provide an avenue for traditional financial institutions to invest without the necessity of utilizing cryptocurrency exchanges.
Nasdaq’s Friedman highlighted that this development facilitates increased accessibility to the specific asset class, expressing optimism about investors’ readiness to allocate more capital this year.
Sharing her perspective to encompass capital markets at large, Friedman anticipates a more dynamic environment for initial public offerings (IPOs) in 2024, expressing a cautious but positive outlook. Notably, in a year characterized by subdued dealmaking, Nasdaq outpaced the New York Stock Exchange in terms of listings.
With the integration of AI it is expected that Nasdaq will facilitate smoother trading, safeguarding the customers and industry stakeholders from potential financial crimes and ensuring a secure and efficient market environment, especially ahead of more dynamic dealmaking landscape in 2024.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
