Nasdaq wants more diversity for stock market listing

I.In the United States, greater consideration of women or minorities on corporate boards may become a requirement for listing on the stock exchange. On Tuesday, the American technology exchange Nasdaq filed a corresponding application with the SEC. The largest electronic exchange in America tied this to a request for clarification of the issue. According to this, the Nasdaq only wants to list companies on its stock exchange with at least one woman and a minority representative on their boards of directors.

Minorities can be either ethnic groups such as African-Americans or homosexuals and transsexuals. If this is not the case, the companies would have to explain the reasons for this to the stock exchange if – to put it simply – only white, heterosexual men sit on their board of directors. Foreign companies wishing to be listed on the Nasdaq are given more flexibility by only having to have two female directors. The board of directors of American companies is largely comparable to the boards of German stock corporations.

Nasdaq CEO Adena Friedman justified the SEC application that the Nasdaq’s goal is to campaign for inclusive growth in order to create a stronger economy. With this admission rule, Nasdaq wants to help ensure that diversity continues to prevail in the American corporate landscape. Most recently, the American investment company Blackstone announced that it wanted to promote more diversity in management. In future, every third member of the boards of companies in which the investor has a majority stake should be “diverse”.


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