Citigate urges UK to take stock of Nasdaq

Nasdaq, the world’s second- biggest stock market, has hired Citigate Communications in an effort to boost awareness of its facilities among UK financial institutions and companies moving to market.

Nasdaq, the world’s second- biggest stock market, has hired

Citigate Communications in an effort to boost awareness of its

facilities among UK financial institutions and companies moving to

market.



Set up in 1971 as the first electronic stock market, Nasdaq provides a

listing for 5,600 companies and is now bigger than the London and Tokyo

stock exchanges.



Rather than using a dealing floor, share transactions are conducted via

an international network of computers. As a result, Nasdaq has drawn

some of the world’s largest hi-tech companies to its market, including

Microsoft, Apple, Intel, Cisco and Dell.



Starting from this week, Citigate will be responsible for raising the

overall profile of the exchange among the financial and business media,

financial institutions and other business advisers.



In addition, the agency will promote Nasdaq’s research material and

campaign on a number of specific issues, such as persuading radio and

television programmes to carry Nasdaq data during market analyses.



Citigate will also have to combat fierce competition from the New York

Stock Exchange, which remains the biggest stock market in the world.

Under president Dick Grasso, the NYSE has attempted to lure companies

from Nasdaq and both exchanges are battling to secure the listing of

Concert, the pounds 16 billion merger between BT and MCI

Communications.



The Nasdaq account, said to be worth six figures, will be led by

Citigate director Patrick Donovan and was won following a three-way

pitch against Brunswick and incumbent agency Dewe Rogerson.



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