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Nasdaq Partners With Stifel for Alternative Trading System

Zacks Equity Research

Nasdaq, Inc. NDAQ has signed an agreement with Stifel Financial Corp. to develop a new alternative trading system known as the Stifel Crossing Platform (STFX).

Nasdaq’s Market Technology will be used by Stifel in developing the new Alternative Trading System, which is projected to go live next month. STFX will provide access to a unique source of liquidity to the firm’s 3,500 institutional clients.

St. Louis, MO-based Stifel is a financial services firm, which offers brokerage, trading, investment banking, investment advisory services to individual investors, professional money managers, businesses and municipalities through more than 390 locations across the nation. It is an active daily market maker in more than 4,000 stocks across all sectors and traded 6.6 billion shares in 2019.

With this partnership, Nasdaq will provide Stifel with a high-performing technology and a scalable infrastructure solution to boost the latter’s efficiency, and enable it to innovate, compete and grow offerings and services.

The newly-launched STFX will boost the trading capabilities of Stifel and provide unique flexibility and alliance of new technologies apart from fulfilling all regulatory requirements.

Shares of this Zacks Rank #2 (Buy) stock have rallied 26.9% in the past year, outperforming the industry’s decline of 20.9%. Solid fundamentals will help the stock move higher than the industry.

Other Stocks to Consider

Investors interested in the same industry can look at other top-ranked stocks like CME Group CME, Cboe Global Markets CBOE and MarketAxess Holdings MKTX.

MarketAxess operates an electronic trading platform that enables fixed-income market participants to trade corporate bonds and other types of fixed-income instruments worldwide. The company delivered a positive surprise of 3.70% in the last reported quarter. It sports Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

CME operates contract markets for the trading of futures and options on futures contracts worldwide. The company delivered a 4.48% positive surprise in the last reported quarter. The company currently carries a Zacks Rank #2.

Cboe Global operates as an options exchange in the United States. The company delivered a positive surprise of 7.14% in the last reported quarter. The company holds a Zacks Rank #2, currently.

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