Tue, 08/08/2006 - 06:57
Steven Bloom has joined the NASDAQ Stock Market as Senior Vice President of NASDAQ Financial Products.
In this role, Bloom will oversee the development of new NASDAQ indexes, financial products, and derivative securities, and the marketing of NASDAQ indexes and NASDAQ-sponsored exchange traded funds (ETFs). He will also be responsible for administering NASDAQ's index program, licensing structured products, and listing third-party sponsored ETFs.
Bloom, who reports to Executive Vice President and Chief Marketing Officer John Jacobs, who is also CEO of NASDAQ Global Funds - a subsidiary of NASDAQ - was previously Principal of Capmark(r), a firm specialising in financial product design and strategic marketing in the investment industry. He has been recognized for innovation and integrity in the field of financial services, particularly regarding the development and launch of ETFs, indexes, and derivative securities.
Prior to joining NASDAQ, Bloom contributed significantly to the creation of the NASDAQ-100 Index Tracking Stock (Nasdaq:QQQQ), the world's most actively traded ETF, and SPDRs (Standard & Poor's DepositaryReceipts), the world's first and largest ETF as measured by assets under management. He holds a Ph.D. in economics from Harvard University, and has served as a securities industry arbitrator for both NASD and NYSE.
"Steven brings to NASDAQ a wealth of expertise and a list of great accomplishments,' says Jacobs. 'NASDAQ will be well served by Steven's leadership, extensive experience, and innovation."
Bloom also contributed to the development of the NASDAQ-100 European Tracker (Symbol: EQQQ), which is listed on markets in Germany, Italy, Switzerland, and the UK. An he previously served as new product advisor to The Bank of New York, whose four international stock indexes underly the ETF family of BLDRS (Baskets of Listed Depository Receipts; NASDAQ: ADRA; ADRD; ADRE; ADRU), and to JP Morgan Chase.
In addition, he assisted in the launch of the first ETF offering by Fidelity Investments based on the NASDAQ Composite Index (Nasdaq:ONEQ).
Background notes: NASDAQ is the largest US electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, trades more shares per day than any other US market. It is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks
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