Richard Repetto
Traders Magazine Online News

Why Do Exchanges Own Multiple Licenses? It's Not Hard To See, Look at the SEC

In this recent research note, Sandler O'Neill + Partners, L.P. Principal Richard Repetto examines why the public exchange operators hold multiple licenses and that rationale behind this phenomenon.

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February 1, 1998

NASD Launches New Logo

By Michael L. O'Reilly

Hoping to create a unified emblem and project its global breadth, the National Association of Securities Dealers has launched a new company-wide logo.

The corporate identity a blue globe swathed by an electronic circuit board will replace logos independently representing the NASD and its subsidiaries, the Nasdaq Stock Market and NASD Regulation.

"We want to let the world know we are one family of businesses," said NASD Chairman Frank Zarb in a prepared statement. "An integrated look is an important element in conveying this message successfully."

Zarb added that the new logo is expected to result in more than $1 million in annual savings. An NASD spokesman explained that a one-stop printing order will save the NASD money, as only one logo will be needed for the NASD and its two subsidiaries.

The spokesman would not disclose the cost of the design nor reveal details on how the contract for the business was awarded.

Clive Chajet, the New York-based artist who designed the new logo, said the NASD wanted to project a strong visual representation for Nasdaq in the design. "Other exchanges have a trading floor or building front as a symbol," Chajet said. "The NASD wanted to create a visual soundbyte for instant recognition."

Chajet added the NASD also wanted to project an international look with high-tech imagery. "I hope that the new symbol captures and symbolizes the NASD's message," he said.