Adena Friedman

And then third, of course, is integrity. How do we drive integrity across the financial system? And all three of those key themes are really the underpinning of us as a market.

And then third, of course, is integrity. How do we drive integrity across the financial system? And all three of those key themes are really the underpinning of us as a market.

I would say that this strategy has been, there have been pieces of the strategy that have developed when I was head of strategy. Bringing it all together into this comprehensive, thematic way of thinking about our business and really driving at scale us as a technology provider to the entire industry has been much more the journey as a CEO.

I would say that this strategy has been, there have been pieces of the strategy that have developed when I was head of strategy. Bringing it all together into this comprehensive, thematic way of thinking about our business and really driving at scale us as a technology provider to the entire industry has been much more the journey as a CEO.

I would say that this strategy has been, there have been pieces of the strategy that have developed when I was head of strategy. Bringing it all together into this comprehensive, thematic way of thinking about our business and really driving at scale us as a technology provider to the entire industry has been much more the journey as a CEO.

But we certainly, there were definitely pieces of the strategy that were already coming up through the organization as head of strategy.

But we certainly, there were definitely pieces of the strategy that were already coming up through the organization as head of strategy.

But we certainly, there were definitely pieces of the strategy that were already coming up through the organization as head of strategy.

There actually was a defining moment for me, and it's not going to be... I had a couple of key moments in my career, like becoming the head of data, becoming the head of strategy, and then joining Carlyle. I would say those three things, and of course, becoming CEO. But there was a project that I want to talk about, because there was this project that...

There actually was a defining moment for me, and it's not going to be... I had a couple of key moments in my career, like becoming the head of data, becoming the head of strategy, and then joining Carlyle. I would say those three things, and of course, becoming CEO. But there was a project that I want to talk about, because there was this project that...

There actually was a defining moment for me, and it's not going to be... I had a couple of key moments in my career, like becoming the head of data, becoming the head of strategy, and then joining Carlyle. I would say those three things, and of course, becoming CEO. But there was a project that I want to talk about, because there was this project that...

allowed me to exercise a lot of muscles that allowed me to develop myself as a leader, accomplish something really important for the company, and build trust with the CEO, who was Bob Breyfeld. So he was new as CEO. And so this was in 2003. He'd come into NASDAQ. He was making a lot of change inside the company.

allowed me to exercise a lot of muscles that allowed me to develop myself as a leader, accomplish something really important for the company, and build trust with the CEO, who was Bob Breyfeld. So he was new as CEO. And so this was in 2003. He'd come into NASDAQ. He was making a lot of change inside the company.

allowed me to exercise a lot of muscles that allowed me to develop myself as a leader, accomplish something really important for the company, and build trust with the CEO, who was Bob Breyfeld. So he was new as CEO. And so this was in 2003. He'd come into NASDAQ. He was making a lot of change inside the company.

And then we had kind of this external force that came in and said, that really made it so that we had to rethink how we closed the market every day. So up until this moment, we closed the market every day by just taking the last trade that was reported to the market. And then we would just shut the system and say, we're done.

And then we had kind of this external force that came in and said, that really made it so that we had to rethink how we closed the market every day. So up until this moment, we closed the market every day by just taking the last trade that was reported to the market. And then we would just shut the system and say, we're done.

And then we had kind of this external force that came in and said, that really made it so that we had to rethink how we closed the market every day. So up until this moment, we closed the market every day by just taking the last trade that was reported to the market. And then we would just shut the system and say, we're done.

And the problem with that is it really was a very gameable way to close the market. And as indexers were coming up and becoming more prevalent and mutual funds at that time were so big, they were using that closing price as the price that determined the value of their fund or the value of the indexer.

And the problem with that is it really was a very gameable way to close the market. And as indexers were coming up and becoming more prevalent and mutual funds at that time were so big, they were using that closing price as the price that determined the value of their fund or the value of the indexer.

And the problem with that is it really was a very gameable way to close the market. And as indexers were coming up and becoming more prevalent and mutual funds at that time were so big, they were using that closing price as the price that determined the value of their fund or the value of the indexer.