Nasdaq CEO Says IPO Applications Up, But Restricted by Shutdown

The video discusses economic risks, market sentiment, and the impact of volatility on business and investor confidence. It highlights the influence of government shutdowns on IPOs and the increasing interest in public markets. The revenue breakdown of NASDAQ is explored, showing a shift towards recurring revenues. The video also covers competition in the exchange market, including the emergence of new exchanges and the dynamics of coopetition.

Discuss the significance of recurring revenues in the business model mentioned.

What is the current competitive landscape for exchanges as described in the text?