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Nasdaq10-K: Competitor named

Nasdaq won 25 listings from competitors NYSE and NYSE American in 2025, representing over $1.24T in market cap.

What happened

Nasdaq successfully poached 20 operating companies and 5 ETPs from its primary rivals, the NYSE and NYSE American. This highlights an aggressive and successful competitive strategy for attracting new listings, creating pressure on rivals and validating Nasdaq's platform for corporate issuers.

Source

SEC EDGARFeb 12, 2026

Annual report (Form 10-K)

Nasdaq 10-K for FY2025

Filing excerpt

During 2025, we had 20 new listings resulting from operating companies switching their listings from NYSE or NYSE American to join The Nasdaq Stock Market as well as 5 ETP switches, included in ETPs and other listings in the table above.

sec.gov/Archives/edgar/data/1120193/000162828026007703/ndaq-20251231.htmRead the full source

Other signals in this filing (11)

Extracted by Autobound

From the Signal API record
Signal
10-K: Competitor named

What this signalsFilings often name leadership changes, deals and spending plans.

Period
FY2025
Fiscal year end
12/31
Filed
Feb 12, 2026

More 10-K signals at other companies

The full record

From the Signal API record

Numbers

Dollar figure
$1.2T (Global equity market capitalization switched to The Nasdaq Stock Market in 2025)

Details

CIK
1120193
Accession number
0001628280-26-007703
Timeframe
Current year
Filing year
2026
Why it matters
Competitive intelligence
Signal category
Market

Topics and mentions

Competitors

  • New York Stock Exchange LLC
  • NYSE
  • NYSE American LLC
  • NYSE American

Regions named

  • U.S.

Extraction

Confidence
High
Relevance
95%
Sentiment
Positive
Detected
Feb 17, 2026
signal_type
sec-10k
signal_subtype
competitorNamed

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The API returns more than this page shows

This page shows a preview. The full sec-10k record in the Signal API and MCP can also have these 8 fields. Some fields are empty for some signals.

Company

  • linkedin_urlValue in the API
  • industriesValue in the API
  • employee_count_lowValue in the API
  • employee_count_highValue in the API
  • revenueValue in the API
  • descriptionValue in the API

Signal

  • signal_nameValue in the API
  • associationValue in the API
Show the full JSONThe record on this page and the API request

GET /v1/signals/937573ec-aaa6-4406-bcdc-df0142f78fa8 returns this record as JSON. POST /v1/companies/enrich returns every signal for nasdaq.com.

{
  "signal_id": "937573ec-aaa6-4406-bcdc-df0142f78fa8",
  "signal_type": "sec-10k",
  "signal_subtype": "competitorNamed",
  "detected_at": "2026-02-17T06:31:20.943+00:00",
  "company": {
    "name": "Nasdaq",
    "domain": "nasdaq.com"
  },
  "data": {
    "detail": "Nasdaq successfully poached 20 operating companies and 5 ETPs from its primary rivals, the NYSE and NYSE American. This highlights an aggressive and successful competitive strategy for attracting new listings, creating pressure on rivals and validating Nasdaq's platform for corporate issuers.",
    "metrics": {
      "timeframe": "current_year",
      "dollar_context": "Global equity market capitalization switched to The Nasdaq Stock Market in 2025",
      "dollar_millions": 1241000
    },
    "summary": "Nasdaq won 25 listings from competitors NYSE and NYSE American in 2025, representing over $1.24T in market cap.",
    "excerpts": "During 2025, we had 20 new listings resulting from operating companies switching their listings from NYSE or NYSE American to join The Nasdaq Stock Market as well as 5 ETP switches, included in ETPs and other listings in the table above.",
    "relevance": 0.95,
    "sentiment": "positive",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/1120193/000162828026007703/ndaq-20251231.htm",
    "filing_date": "2026-02-12",
    "filing_year": 2026,
    "fiscal_year_end": "12/31",
    "sales_relevance": "Competitive intelligence",
    "signal_category": "market",
    "regions_mentioned": [
      "U.S."
    ],
    "competitors_mentioned": [
      "New York Stock Exchange LLC",
      "NYSE",
      "NYSE American LLC",
      "NYSE American"
    ]
  }
}

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