Nasdaq Debuts $100M Fat Cat Exchange

High-rolling private bourse will be free from federal regulation

By Sam Gale Rosen, Newser Staff

Posted Aug 14, 2007 9:35 AM CDT

(Newser) – Nasdaq is launching a regulation-free private stock market for the super-rich, offering those who can pony up at least $100 million access to the first-ever private investment exchange. Any private company can then sell stock to these elite shareholders, without having to worry about making their finances public—or being subject to federal regulation, the Washington Post reports.

The new market, called the Portal Market, is a sign of the increasing power of private money on Wall Street. In 2006, private investors had a record year, supplying over $162 billion to companies—compared to $154 million in public offerings on the three major exchanges. Now they can go one better. The Portal Market allows investors "to gain most of the advantages of being public while sidestepping the disadvantages," says one investment firm CEO.

Executives with Riverbed Technology Inc., attend the opening bell at the Nasdaq stock market in this file photo of May 4, 2007 in New York. Nasdaq Stock Market Inc., the nation's largest electronic exchange,... (Associated Press)

Traffic passes the Nasdaq stock market on Tuesday, June 19, 2007 in New York. The nation's service economy expanded at a faster-than-expected clip in June, a research group said Thursday, July 5, 2007... (Associated Press)

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Nasdaq Debuts $100M Fat Cat Exchange

High-rolling private bourse will be free from federal regulation

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Related Links

private equity • Wall Street • NASDAQ • IPO • markets • Portal Market

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

No Pop in Zynga's IPO

Opens at $11 a share, then sinks below IPO price of $10

Dow Drops 300+ Points

Investors worried about Europe again

Carlyle Group Files for IPO

Huge private equity company to open its books

Dow Down 100 at Open

S&P 500, Nasdaq follow suit

Dow Plunges 480+, Below 11K

S&P, Nasdaq follow suit

About Us

Site

Newser By Users

Community

Site Maps

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