macro

Nasdaq Pulls Ahead of NYSE in the Race for Biggest IPOs This Year

According to WSJ, citing Dealogic, Nasdaq has raised nearly $120 billion from IPOs this year against $20 billion for the NYSE, a record gap.

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what happened

The Wall Street Journal, citing Dealogic data, reports that through Friday Nasdaq has won 59 traditional IPOs and raised nearly $120 billion this year. The NYSE has landed 32 companies and raised $20 billion.

Most of Nasdaq's total comes from the $86 billion SpaceX listing, the largest IPO in history. If Anthropic picks Nasdaq for its planned IPO next month, the tally could grow by roughly another $100 billion.

Nasdaq also approved a rule letting large new listings join the Nasdaq-100 index just 15 trading days after debut. The NYSE launched its NYSE 100 index only last year and so far it attracts far less investor money.

why it matters

The volume of listings is not the only issue. Index funds create steady demand for newly listed shares, so index inclusion rules affect valuations and where companies choose to list. Shares of Nasdaq Inc. and Intercontinental Exchange are little changed so far this year.

market impact

Nasdaq, NYSE, ICE: listing competition and index rules shape exchange revenue and valuations.

tags

instruments

NasdaqNYSEIntercontinental ExchangeSpaceXNasdaq-100

sources

  1. NYSE Is Getting Trounced in the Battle for Wall Street's Biggest IPOs — WSJ, 21 October 2026 at 02:00 UTC

prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.

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