June 5 (Reuters) - Exchange operator Nasdaq is
holding active talks with companies considering stock market
debuts, CEO Adena Friedman said on Thursday, underscoring the
U.S. economy's resilience and signaling renewed market vigor.
Several high-profile companies, including those in
risk-heavy sectors such as crypto and financial technology, have
successfully launched listings in recent weeks, pointing to
pent-up demand and improving market conditions.
At the Piper Sandler Global Exchange & Trading Conference,
Friedman said the foundation of the U.S. economy remained strong
and its resilience continued to support market activity.
"People are continuing to put capital to work. Companies are
putting capital to work. They're investing and the capital
markets have gone through a lot of volatility, but that's also
starting to kind of moderate," Friedman said, adding that there
was more opportunity for the IPO window to really open up now.
Still, some firms exposed to trade policy uncertainty were
adopting a cautious approach and holding off until there is
greater clarity.
"Sectors that are more impacted by the potential tariff
environment, it's going to be harder for investors to predict
the future of those companies... I think those companies are
taking a little bit more of a wait-and-see approach," Friedman
said.
Listings on the Nasdaq and rival Intercontinental Exchange
have been closely watched as a barometer for renewed risk
appetite and investor sentiment following a years-long slowdown
in new listings.
NYSE President Lynn Martin also said earlier on Thursday
that public markets were ready for well-prepared companies even
amid tariff concerns.
ALL EYES ON TEXAS
Friedman highlighted Texas as an emerging capital markets
hub, praising the state's pro-business environment and growth
potential.
"It's a growth area for us," she said, adding that the state
has a pro-business environment and companies are increasingly
moving their headquarters to or establishing themselves in
Texas.
Elon Musk-led Tesla and SpaceX, as well as tech
giants Oracle and Hewlett Packard Enterprise ( HPE ),
have moved to the Lone Star State in recent years, attracted by
a favorable tax climate, lower living costs and reduced energy
costs.
In March, Nasdaq had said it would open a regional
headquarters in Texas, deepening its presence in a state that is
fast emerging as a major financial hub rivaling New York.
A foothold in Texas could enhance the exchange's reach among
the state's leading industries, including energy and
manufacturing.