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
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
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
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.