Nasdaq combines data products and index businesses

Nasdaq combines its global data products and index businesses, names executive to lead it

Associated Press

NEW YORK (AP) -- Nasdaq will combine its global data products and index businesses to better leverage the exchange operator's technology and resources.

The new Global Information Service will be led by Executive Vice President John Jacobs. Jacobs previously oversaw the global index group and has served as Nasdaq's chief marketing officer since 2003.

"Combining these business areas allows us to better take advantage of the sweet spot they inherently both share: Distribution of data and the delivery of innovative products that provide market insight and transparency," said Nasdaq CEO Bob Greifeld.

Nasdaq's global data products business delivers historical and real-time market data to 2.5 million financial professionals and individual investors in 83 countries.

Nasdaq plans to treat the combined businesses, which will represent about 20 percent of the company's total revenue, as a separate reporting segment effective Jan. 1, 2013.

Shares of Nasdaq OMX Group Inc. rose 8 cents to $27.86 in afternoon trading.

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