Nasdaq Pledges Support in Response to COVID-19
Nasdaq, Inc. (Nasdaq: NDAQ) announced today its philanthropic support in response to the Coronavirus COVID-19 pandemic. With our global community experiencing this unprecedented time in history together, Nasdaq is taking action to commit cash and in-kind donations totaling $6 million to COVID-19 response and relief efforts to provide immediate assistance to those who are most at risk.
With our global community experiencing this unprecedented time in history together, @Nasdaq is taking action to commit to the COVID-19 response and relief efforts.
— Nasdaq (@Nasdaq) March 25, 2020
“The COVID-19 pandemic reminds us that for all our perceived differences, what matters most is universal: taking care of the people in our communities who make our lives meaningful,” said Adena Friedman, President and Chief Executive Officer, Nasdaq. “As a responsible corporate citizen, we strongly believe Nasdaq can contribute in important ways to support our communities as we manage through these challenging times together. This means supporting government authorities and global health organizations in their response efforts, increasing our philanthropic support to organizations focused on supporting small businesses, and providing funds to groups working tirelessly on the front lines of this pandemic to keep our communities safe.”
Commitment to our Communities
As part of Nasdaq’s $6 million philanthropic commitment, a cash donation in total of $5 million will be provided to the following programs in an effort to offer immediate assistance to those impacted by COVID-19 including: the Opportunity Fund’s Small Business Relief Fund to support small business owners, a cornerstone of our economy; the World Central Kitchen’s #ChefsForAmerica relief efforts to provide meals to students, seniors, and vulnerable communities in need; and the World Health Organization’s COVID-19 Solidarity Response Fund to help patients and frontline health workers get the care and essential supplies they need, while also accelerating efforts to develop COVID-19 vaccines, tests, and treatments.
To support local health care providers, Nasdaq has donated 12,000 face masks this month to the Greater New York Hospital Association, and we have an on-going effort to collect additional face masks from our clients, partners, and vendors.
Nasdaq will amplify our monetary contributions by double matching all employee donations to global COVID-19 relief and response efforts through the Nasdaq GoodWorks program. The company also has transitioned to virtual volunteer activities to keep our employees and partners safe while reaffirming our support to the communities in which we operate.
In addition, an estimated $1 million of advertising time on the Nasdaq MarketSite Tower in Times Square has been reserved for Public Service Address messages related to social distancing and other efforts to #flattenthecurve. Commitment to our Clients
All Nasdaq operations, products, and services remain fully operational through our global remote workforce and split teams for critical on-site staff. Our team is working tirelessly to ensure the proper functioning of our markets, full support of the technology that serves our 120+ market operators globally, as well as the unique data and insights that we provide to our capital markets clients around the world.
In addition, Nasdaq will be seeking authority from the U.S. Securities and Exchange Commission (SEC) to temporarily suspend the price-based and shareholder equity rules for Nasdaq-listed companies for a period of time while companies navigate the impact of the COVID-19 pandemic. The company is also discussing with the SEC other temporary rule changes that would help listed companies adversely affected by these extraordinary global events.
Nasdaq is also offering a number of products and services to clients at no cost. The company is providing unlimited seats at no cost to all existing clients of Nasdaq Boardvantage® and Directors Desk to assist governance professionals who need to maximize their time and facilitate meaningful remote interactions with their boards, committees, and leadership teams.
To ensure the health of mission-critical trading systems during these unprecedented market conditions, Nasdaq is offering our 120 market infrastructure clients who rely on our Market Technology with a free diagnostics check. This will help safeguard our exchange partners, as they serve their role as a critical foundation of their local economies.
Lastly, Nasdaq will amplify our corporate clients’ philanthropic and Public Service Address efforts through our omni-channel advertising resources including outdoor, social, and digital campaigns via Twitter, Instagram, Nasdaq.com, and the Nasdaq MarketSite Tower in Times Square.
Ms. Friedman concluded, “I am incredibly proud to see the entire Nasdaq team rise to the challenge given this unprecedented time in our history. We are looking out for each other, we are staying focused on our mission, and we are continuing to support all those who rely on us to navigate the capital markets and beyond. Nasdaq was founded on the idea that people do not need to be in the same physical place to be part of the same community. This founding principle continues to drive us as we face the unexpected.”
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