Perhaps there are some businesses even a fancy takeover cannot rescue from boringness. Compliance, for example. Shares in Nasdaq dropped 13 per cent in morning trading in New York after the tech-focused exchange operator announced its $10.5bn purchase of compliance software firm Adenza.
The implementation of Dodd-Frank in 2010 has doubled the number of regulations applied to US banks, according to a study by Rice University’s Baker Institute for Public Policy. Keeping up with red tape is costly and time-consuming. Spending on compliance by the financial services sector has risen more than $50bn since 2009.
Regulatory burdens will grow in the wake of this year’s banking turmoil. Nasdaq wants to cash in on higher demand.
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