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ARTICLE · 28 MARCH 2017

Nasdaq Private Market Unit Offering Blockchain-Based Service For Alternative Funds

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

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The Nasdaq Stock Market is seeking to expand the market for alternative investment funds with a blockchain-based payment and settlement process.

United StatesFinance and Banking
George Silfen
George Silfen
Ronald Feiman
Ronald Feiman
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The Nasdaq Stock Market is seeking to expand the market for alternative investment funds with a blockchain-based payment and settlement process. The exchange notes it received approval from both regulators and tax officials for its approach to the new business. The exchange's Nasdaq Private Market (NPM) business unit will focus on enhancing access to alternative funds by improving liquidity for these instruments. Initially, it will support secondary market liquidity for private equity feeder funds, but it aims to expand to other sorts of alternative funds in the future. The new venture, NPM Alternatives, aims to bring together fund managers, financial advisors, investors and secondary liquidity providers to facilitate regular, auction-based liquidity events for alternative investment funds.

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