Nasdaq, Inc. NDAQ Market Services — Directly consumed expenses

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Questions, answered.

What is Nasdaq, Inc.'s market services — directly consumed expenses?

Nasdaq, Inc. (NDAQ) reported market services — directly consumed expenses of $92M in Q1 2026.

How has Nasdaq, Inc.'s market services — directly consumed expenses changed year-over-year?

Nasdaq, Inc.'s market services — directly consumed expenses increased by 4.5% year-over-year, from $88M to $92M.

What is the long-term trend for Nasdaq, Inc.'s market services — directly consumed expenses?

Over 3 years (2022 to 2025), Nasdaq, Inc.'s market services — directly consumed expenses has grown at a 6.4% compound annual growth rate (CAGR), from $293M to $353M.

What does market services — directly consumed expenses mean?

These are operating expenses that are directly attributable to the market services segment and are not allocated from corporate overhead. This metric helps in assessing the specific cost structure and operational discipline of the trading business unit.