Nasdaq Pledges Business and Philanthropic Support in Response to COVID-19
Nasdaq Pledges Business and Philanthropic Support in Response to COVID-19
Nasdaq, Inc. (Nasdaq: NDAQ) recently announced its philanthropic support in response to the Coronavirus COVID-19 pandemic.
With our global community experiencing this unprecedented time in history, Nasdaq, a global technology company serving the capital markets and other industries, 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.
“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.”
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.
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.
Among other changes, Nasdaq will amplify their corporate clients’ philanthropic and Public Service Address efforts through their omni-channel advertising resources including outdoor, social, and digital campaigns via Twitter, Instagram, Nasdaq.com, and the Nasdaq MarketSite Tower in Times Square.
“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,” said Friedman.
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