(Reuters) -Nasdaq reported a rise in third-quarter profit on Thursday, helped by strong demand in its solutions business that houses the exchange operator's financial technology products.

The company's shares rose 1.5% in trading before the bell.

To generate steady revenue growth, Nasdaq has been branching out from its market-sensitive core operations of trading and listing to products that help traders and investors navigate the capital markets.

Revenue from the company's financial technology business climbed nearly 56% in the third quarter, while revenue at the company's solutions business rose 31% to $906 million on an adjusted basis.

Nasdaq's total revenue rose to $1.90 billion from $1.45 billion.

Hopes of interest rate cuts, the first of which came late in September, and a "soft landing" for the economy, where inflation falls without a recession or big job losses, spurred companies to try their luck with fresh listings in the third quarter of 2024.

Nasdaq's total listings rose to 138 in the third quarter from 87 a year earlier, resulting in a 1% increase in the company's data and listing services revenue.

Big names such as KKR-backed financial software maker OneStream and cold storage REIT Lineage debuted on Nasdaq during the reported quarter.

Net profit attributable to Nasdaq, on an adjusted basis, came in at $429 million, or 74 cents per share, in the third quarter ended Sept. 30, compared with $349 million, or 71 cents per share, a year earlier.

The exchange operator's shares have gained nearly 27% so far this year.