NEW YORK and SAN FRANCISCO, Sept. 05, 2024 (GLOBE NEWSWIRE) — Nasdaq Private Market (NPM), a leading provider of secondary liquidity solutions to private companies, employees, and investors, announced today that it has settled over $500M in bilateral trades using its Transfer & Settlement (T&S) product. Officially announced in 2023, this marks a major milestone for the company and the product.
T&S is NPM’s proprietary share transfer technology built for companies to help improve settlement times and significantly reduce the internal resources spent on company transfers. As a broker-agnostic solution, T&S can be used by any participant executing share transfers through the NPM SecondMarket™ trading marketplace or other third-party venues. All trades and affiliated trade data are securely managed by NPM and are only accessible to company-approved parties.
“The recent recovery in the private markets means companies spend more time managing share transfers than ever. Feedback from our clients who have enrolled is that T&S is a game-changing product for equity administration and finance teams as it gives them back hours per day otherwise spent on the tedious task of managing transfers,” said Andrew Kroculick, Head of Business Operations and Client Experience, Nasdaq Private Market. “NPM has been settling trades and tender offers for more than a decade, and we pride ourselves on making each settlement as efficient and easy as possible for the company and shareholders.”
NPM T&S efficiently settles private company share transfers on behalf of clients with benefits that include:
- A free service to private companies to outsource complex, distracting, and non-core administrative activities.
- Data that is protected, confidential, and secured within NPM-managed systems.
- User-authorized access to view their data in real-time, track the status of their transfers, and view an audit trail of a specific transfer.
- Streamlined holdings verifications, ROFR decisions, documentation submissions, and payment processing.
With settlement representing a critical component to establishing liquidity in any asset class, T&S helps to make the private market more investible for market participants worldwide. NPM continues to invest in the product to help alleviate the administrative burdens of transferring shares for private companies while offering equity administration teams complete control and oversight of transfer activity data.
As an industry-leading provider in the secondary market for the past decade, NPM has executed more than $50 billion in transactional value across over 700 company-sponsored liquidity programs for venture-backed private companies as well as 190,000 individual shareholders and investors.
For more information about T&S, visit https://www.npm.com/product/transfer-settlement-solutions/
About Nasdaq Private Market
Nasdaq Private Market provides liquidity solutions for private companies, employees, and investors throughout each stage of the pre-IPO lifecycle. In 2013, the company was founded within Nasdaq, Inc. Today it is an independent company with strategic investments from Nasdaq, Allen & Company, Bank of America, BNP Paribas, Citi, DRW Venture Capital, Goldman Sachs, HiJoJo Partners, Morgan Stanley, UBS, and Wells Fargo.
Learn more at www.nasdaqprivatemarket.com. Visit LinkedIn and X for the latest company news.
Media Contacts
Nasdaq Private Market
Amanda Gold
Amanda.Gold@npm.com
Disclosures and Disclaimers
NPM is not: (a) a registered exchange under the Securities Exchange Act of 1934; (b) a registered investment adviser under the Investment Advisers Act of 1940; or (c) a financial or tax planner and does not offer legal or financial advice to any user of the NPM website or its services. Securities-related services are offered through NPM Securities, LLC, a registered broker-dealer and alternative trading system, and member FINRA/SIPC. Transactions in securities conducted through NPM Securities, LLC are not listed or traded on The Nasdaq Stock Market LLC, nor are the securities subject to the same listing or qualification standards applicable to securities listed or traded on The Nasdaq Stock Market LLC.
Please read these other important disclosures and disclaimers about NPM found here: https://www.nasdaqprivatemarket.com/disclosures-disclaimer/
