You must be this wealthy to trade
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You must be this wealthy to trade
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Scott Jagow: Nasdaq actually debuts a new stock market tomorrow. But unless you’re really wealthy, you won’t be able to trade on this one. Amy Scott reports from New York.
Amy Scott: To trade on Nasdaq’s new Portal Market, investors need at least $100 million in assets.
The private market will allow institutions and the super-rich to invest in privately-held companies. And those companies will have access to investor cash without having to tell the public what they’re up to.
Stephen Bruel is an analyst with the research firm TowerGroup.
Stephen Bruel: If companies stay private then I think you could see some potential issues down the road, especially the lack of retail access to these investment opportunities. But often times, the companies that are listing on the private markets will go public down the road.
Nasdaq will have some competition. Goldman Sachs and other investment banks are launching their own private markets. They’re responding to the growing demand for private capital. Last year, companies raised more money from private investors than from stock market IPOs.
In New York, I’m Amy Scott for Marketplace.
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