Palestra com Lauren Dillard e Bob McCooey, da Nasdaq

Sure, and thank you again for having us today. We're excited about the partnership and all the exciting things we can do in the future. So I actually joined Nasdaq about a year ago to run the information services business, and I spent the prior almost 20 years actually at an alternative investment management firm. So I came up on the kind of alternative side, and my last job there was actually running the business that put together fund-to-funds and secondaries and co-investments. So I had the great experience of seeing the rise of alternatives as we think about it in portfolios. I also, as a result of that, saw the need, the writing need I would say, of data and on really modern technology to help drive investment decisions. And so that's why what Nasdaq is doing, the mission, which frankly is quite aligned with XP when one would, to help drive investment decisions, was an exciting move for me. So it's been very fun. I completely echo what Bob says. When people think of Nasdaq, they think of an exchange, which will always be core to our mission and helping our companies that are listed on our exchange, but we really are a technology company that is providing data and analytics for the broad, arguably capital markets, but even markets beyond that. So it's been exciting, but I definitely have a different background coming up through the outside.

That's right. Yeah, it's the ecosystem, right? As we say, everything's tied, everyone knows each other.

Yeah, absolutely. So global information services is about 30% of Nasdaq as you look at the revenue footprint, and it has three sort of distinct parts, but its North Star is how do we provide data, analytics, and transparency to the investment management community to make investing decisions. So that's our core mission. It's very similar to what I've come out of XP around democratizing investing and providing data. So the core was the market data that comes off of the exchange, so providing clear transparency around trading. So whenever you see a quote, that's a data feed that's coming from our sort of core piece of our business. And then we have a very large index footprint. So we can talk about the index business, it's quite global. Obviously the Nasdaq 100 is sort of the core to that, but we have thematic indexes that we can talk about. And then the last piece is a large analytics business, and some of this has been via acquisitions. So we brought on eVestment, which is a very large institutional database. If you want to think about it, it's like a storefront into managers, and we can talk about how managers use it, how investors use it. And then we added on to that a cloud-based multi-asset portfolio management tool, so you can see your entire platform, see your entire portfolio. It's obviously been a really important tool to have during the volatility, as you can watch both the public market volatility, but you can see how your private market pieces of your portfolio meet, and if you need to rebalance, then it's obviously a natural step for asset owners or investors to go into eVestment, look at other managers, try to figure out how to augment their portfolio, and then come back into that tool. So that's the analytics and data piece of our business. So we've got three distinct pieces, but they all have that sort of North Star of how do you provide transparency into the investing community.

Yes, it's definitely fun.

No, I would actually pick up exactly where Bob left off. I mean, we are seeing hyper heightened digitalization. And if you think about what we do, it's we try to provide cloud-based, very modern technology to drive quick investment decisions and provide quick access to data. And you're only seeing that being heightened by the fact that everyone's at home. So if anything, I think we've in some cases moved up our plans or leaned in a bit more on providing alternative platforms where you can get quick access to data. So I wouldn't say that it's changed our plans per se. I will say that staying on the index theme of the companies that are listed on Nasdaq, when you look at our book of indexes and our business there, they really are kind of what I would refer to as like almost like the modern industrial. It's the way that especially in light of COVID, we are all living today on whether it's on Zoom or whether it's using Peloton. And so our thematic indexes that we had in our queue and our roadmap, we're certainly seeing almost kind of pressure to get some more out in a faster manner. So I think what you're hearing from us is innovation has only been accelerated in light of COVID. And our means of having a dispersed workforce, going back to that being the kind of root of where Nasdaq was formed in digitalizing an exchange, is consistent with everything that we're seeing across the globe.

Yeah, I mean, look, I think Brazil is a key part of our expansion plans as we think about the dynamics that are going on in Brazil and what we have to offer. And I don't need to go through the rise of investing, how you see, I mean, you're seeing that as well, whether it's on the institutional side or the retail side, and the demographics around the investing community. So if you go back to our job, it's to provide technology and to provide data for those investing themes. We have already had plans and continue to have accelerated plans to continue to provide our technology, our investing tools in Brazil. I think one very clear area for us is the Nasdaq 100 has done extraordinarily well. As mentioned, it's essentially a modern industrial at this time, and that's heightened. And we would love to provide access to that index, access to the future, being able to provide the ability to trade and get exposure to those companies. We have ongoing discussions, quite real-time, on how we can launch ETFs. We think that's a good product for investors there, and we've been working with several local players to be able to partner to provide ETFs there. So when you think about what we can offer out of our index portfolio, that's where we think there's probably the easiest and frankly best products to lead out into Brazil and then across Latin America actually. And then when you think about our portfolio tools, whether it's the portfolio management tool or whether it's eVestment, and I know there are databases that are local, but when you really think about what that's doing, that is providing access. It's like a window shop into all the institutional managers' products. Managers use it to give others, they look at analytics, and then asset owners or investors can look at it to see what would be interesting in their portfolio, where they maybe are missing a piece that they need to augment. They can compare managers. We obviously have a heavy push from our investors around ESG and disclosures there. It's got close to a thousand investors that use it and tens of thousands of products in it. So it really is used by both the managers to compare themselves and then it's used by the investors to compare. And way back when it was formed, I should say it was formed by allocators or consultants, so that is the genesis. So when we think about how assets are moving in and out of Latin America, and I think you had a really interesting piece on your website about searches for other investment products that were international investment products, this would be a type where a tool that you could go in and see and compare. So when we think about providing tools, it's totally consistent with what you would expect: how can we provide transparency, how can we provide data? We're not an asset manager, we're a technology company. And we certainly see the dynamics shifting from your client base, and we would love to be able to service that with our data. That's the way we think about it.

Yeah, I mean, I mentioned the asset demographics as we look at it from the investing side. And I know I said it, but I'll say it again. I believe that access to things like the Nasdaq 100 futures around it, being able to invest in ETFs and the creation of products, is what we are certainly excited about. And all the reports we see, all the investing numbers, certainly watching what we see within XP and certainly even on the institutional side, we believe access to really high quality products is central and core. And we're obviously very proud of the suite of products we have around the Nasdaq 100, and so that's a natural fit for us. But if you watch the sort of maturation in the investing community, it's all about how do you get the right information into the hands of your investors to be able to make the right investment decisions, both within Brazil and then outside Brazil. And so that's kind of core to the Nasdaq ethos: provide transparency, democratize investing, make investing accessible to everyone. And that's where we see the opportunity. Now, it means you have to have data, you have to have access to obviously analytics around that, and it means it should be low cost, obviously with the low cost environment we see that. And we want to be responsive to how we provide data and analytics around that. But as investing democratizes, it's all about making sure that there's transparency. And I love the core mission of XP around education. That's core to Nasdaq as well: how do you educate, how do you get data to drive the best investing decisions? From the Nasdaq 100 and the family, we believe it's a great family to invest, but broadly speaking, it's providing transparency and data to make really solid investing decisions.

Yeah, yeah. I mean, when we think about our index family and taking it to emerging markets, and we have been doing that. We've recently launched something in Malaysia, we've launched something in Taiwan. It's all about, and obviously we're super keen. Way back in my life, I was a recovering tax professional, so we're super keen to recognizing and understanding that regulatory environments, the structure has to be right. So we try to take our products and make sure that we're partnering with people on the ground to make sure that we can structure whether it's in futures, whether it is in pure indexes, whether it's in some sort of exchange-traded products, that we can make sure it's accessible. Because you know, we recognize you can't just pour around the globe. But honestly, that's a core part of Nasdaq's expansion. We've got great tools and we've got great products, and others say that as well, so I'm not saying anything on that, but it's all about making them accessible to the people that can invest in them. And so making sure that the structures work and to make sure that they're cost efficient, obviously, we view that as super important. So whether you're accessing something on what market or where they're accessing something in the private sphere, that should be the core ethos. So we have been doing that across Asia, across Europe, we recently launched several products in Australia. So it's all about making sure that the products are right for the investing community on the ground. In some cases, they're looking for more fixed income, in some cases they're looking for higher returns, and we look at the suite of products and make sure we can structure it accordingly. So that's the way we see that we have been porting our products around the world as others have, but it's all about making sure it's right for the investing community on the ground.

Yeah, you need to mention the fact that in something in the same vest, I will be hosting the closing bell on Friday right after that.

Thank you.