Nasdaq's CEO Looks to Keep Up Record-Breaking Momentum

Adena Friedman’s first year as CEO of Nasdaq has been pretty remarkable. The Nasdaq Composite Index surged 28% in 2017—rising faster than any other major U.S. index—and it posted one record close after another, crossing the 7,000 level for the first time ever. As for initial public offerings, Nasdaq led the pack with more than 130 IPOs. And to top it off, PepsiCo switched its stock listing from the New York Stock Exchange to the Nasdaq after 100 years on the Big Board.

Speaking about the PepsiCo switch, Friedman tells Fortune thatthe credit goes to great team work. “I have to say it really was a team effort. I mean it really was a multi-year effort of us developing that relationship,” she says.

Looking ahead to 2018, Friedman expects the market rally to continue thanks to the Trump tax cuts and reduced regulations. “You kind of feel like this weight is lifting off of corporate America and that’s obviously showing up in the markets,” she explains.

Friedman also predicts another year of “high demand” for initial public offerings. And even though Nasdaq lost the bidding for Spotify, which many consider the big tech IPO for the year, Friedman seems cool about it. “We win the majority of IPOs. I would love to win them all,” she says. Then, she proudly adds, “We have the best and biggest companies on the planet listed on the Nasdaq today. The ones that are driving the future.” Indeed it does. The Big Four on the Nasdaq are Apple, Google, Amazon and Microsoft.

Watch the video above for more of our conversation with Friedman.

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