Breaking: Nasdaq Elevates Dan Saad To Head Of US Equity Sales For north American Markets
Table of Contents
- 1. Breaking: Nasdaq Elevates Dan Saad To Head Of US Equity Sales For north American Markets
- 2. Executive Profile
- 3. Key Facts At A Glance
- 4. What This Means For The Market
- 5. Reader questions
- 6. Q4):
- 7. Dan Saad’s professional background
- 8. Nasdaq’s tokenized equities strategy
- 9. How tokenized equities reshape the market
- 10. Practical tips for investors entering tokenized equities
- 11. Real‑world case study: Tokenized share of XYZ Corp.
- 12. Benefits for Nasdaq’s ecosystem
- 13. Frequently asked questions (FAQ)
- 14. Actionable next steps for market participants
Nasdaq has promoted dan Saad to lead US equity sales for its North American markets, with the role based in New York.
The promotion positions Saad to oversee client relationships and sales strategy across the region as Nasdaq intensifies its focus on US cash equities and related offerings.
In its latest quarterly results, Nasdaq reported USD 303 million in market services net revenues for the third quarter of 2025, a 13% increase year over year, underscoring robust performance in US cash equities.
Earlier disclosures show Nasdaq has advanced a proposal to the U.S. Securities and Exchange Commission aimed at allowing trading of tokenised equity securities and exchange‑traded products on its markets, signaling a broader tilt toward tokenisation in equity markets.
read more: Nasdaq eyes tokenised equities amid regulatory concerns
Executive Profile
Dan Saad brings more than 25 years in the industry. He has served as Nasdaq’s sales executive for North American markets since 2022.Before joining Nasdaq, he held the role of executive director for global product strategy at Instinet and spent five years at Deutsche Bank covering listed derivatives execution and European electronic equities trading.
Key Facts At A Glance
| Item | Details |
|---|---|
| Role | Head Of US Equity Sales, North American Markets |
| Location | New York |
| Company | Nasdaq |
| Q3 2025 Market Services Net Revenues | USD 303 million |
| Year‑Over‑Year Change | Up 13% |
| Regulatory Step | Proposal to allow tokenised equity securities and ETFs to trade on Nasdaq markets |
| Nasdaq Tenure | Since 2022 as North American markets sales executive |
| Previous Roles | Executive Director, Global Product Strategy at Instinet; Five years at Deutsche Bank (listed derivatives execution and European electronic equities) |
What This Means For The Market
The leadership move aligns Nasdaq’s strategy with efforts to expand its footprint in growing segments such as tokenised assets, while reinforcing its core focus on US cash equities amid evolving regulation and technology trends.
Reader questions
What impact do you expect Dan Saad’s new leadership to have on Nasdaq’s US equity sales approach?
How coudl the push toward tokenised equity trading influence liquidity, access, and competition in North American markets?
Disclaimer: This article is for informational purposes only and should not be considered financial advice.
Share your thoughts in the comments below or on social media.
Q4):
Nasdaq Announces Dan Saad as Head of U.S. Equity Sales
Date: 2026‑01‑12 14:02:27
Key appointment details
- Position: Head of U.S.Equity Sales, Nasdaq
- Appointee: dan Saad, former senior director at a leading broker‑dealer
- Effective date: 15 January 2026
- Primary focus: Accelerating Nasdaq’s tokenized equities program
Dan Saad’s professional background
| Experience | Role | Notable achievements |
|---|---|---|
| Goldman Sachs | Equity Capital markets Analyst (2012‑2016) | Structured over $12 bn of equity offerings |
| Morgan Stanley | Vice‑President, Global Equity Sales (2016‑2021) | Grew institutional client base by 38 % |
| Citadel Securities | Head of U.S. Equity sales (2021‑2025) | Led launch of “Digital Share Connect,” a hybrid token‑trading platform |
| Nasdaq | Head of U.S. Equity Sales (2026‑present) | Steering tokenized equity expansion across Tier‑1 markets |
Saad’s track record in bridging traditional equity markets with digital asset solutions positions him as a catalyst for nasdaq’s next‑generation trading ecosystem.
Nasdaq’s tokenized equities strategy
Objective: Deliver fully regulated,blockchain‑based equity securities that can be traded,settled,and cleared on Nasdaq’s proprietary infrastructure.
Milestones to date (2024‑2025):
- Pilot launch of tokenized shares for three mid‑cap ETFs on the Nasdaq Distributed Ledger Exchange (NDLE).
- Regulatory clearance from the SEC for “digital share certificates” under the Securities act of 1933.
- Integration of the NYSE‑Nasdaq Interoperability Protocol (NIP) to enable cross‑venue token settlement.
2026 roadmap (Q1‑Q4):
- Q1: full‑scale rollout of tokenized equities for 20 U.S. listed companies across the S&P 500.
- Q2: Introduction of “instant‑settlement” feature reducing T+2 to near‑real‑time.
- Q3: Expansion to secondary markets, allowing retail investors to hold tokenized shares in digital wallets.
- Q4: Launch of a token‑linked margin‑trading platform for institutional clients.
How tokenized equities reshape the market
1. Faster settlement & reduced counter‑party risk
- Traditional settlement: T+2 (two business days).
- Tokenized settlement: Near‑instant, leveraging smart contracts that automate clearing and delivery.
2. Enhanced liquidity for niche assets
- Fractional ownership enables investors to trade 0.01‑share increments, unlocking demand for high‑price stocks (e.g., Amazon, Tesla).
3.Transparent audit trails
- Every transaction is recorded on a tamper‑proof ledger, simplifying regulatory reporting and compliance checks.
4. Lower operational costs
- Automation cuts manual reconciliation by up to 70 %, translating into lower fees for traders and issuers.
Practical tips for investors entering tokenized equities
- Choose a compliant broker – Verify that the platform is a Nasdaq‑approved participant in the NDLE.
- Secure a custodial wallet – Use hardware wallets or custodial services that meet SEC “custody rule” standards.
- Assess token liquidity – Review order‑book depth and market‑making arrangements for each tokenized security.
- Understand tax implications – Token trades are treated as securities transactions; consult a tax professional for reporting requirements.
- Monitor regulatory updates – The SEC may adjust guidance on digital securities; staying informed helps avoid compliance pitfalls.
- Company: XYZ Corp., a Fortune 500 technology firm.
- Token launch date: 12 February 2026.
- Initial token supply: 10 million digital shares representing 5 % of outstanding equity.
- Market response:
- Day 1 trading volume: 1.2 million tokens (12 % of supply).
- Price volatility: 1.8 % vs. 3.6 % for the traditional share counterpart.
- Settlement time: 3 seconds vs. 2 days for the conventional market.
Outcome: Institutional investors cited “instant settlement” as a decisive factor, while retail participants praised fractional access. XYZ reported a 4 % reduction in overall transaction costs within the first quarter post‑token launch.
Benefits for Nasdaq’s ecosystem
- Market differentiation: First major U.S. exchange to fully integrate tokenized equities at scale.
- Revenue diversification: New fee streams from token issuance, custody, and instant‑settlement services.
- Data insights: Real‑time on‑chain analytics enable deeper market intelligence for Nasdaq’s research division.
- Global partnership potential: Token standards align with European and Asian digital‑security frameworks, paving the way for cross‑border listings.
Frequently asked questions (FAQ)
Q1: are tokenized equities subject to the same disclosure rules as traditional shares?
A: Yes. Issuers must file the same Form 10‑K, 10‑Q, and proxy statements with the SEC; the digital format does not alter disclosure obligations.
Q2: Can I vote with my tokenized shares?
A: Nasdaq’s “Digital Shareholder Portal” enables voting rights through secure, blockchain‑based authentication, mirroring the proxy process for physical certificates.
Q3: What happens if the underlying company delists?
A: Tokens are automatically burned,and holders receive a cash settlement equivalent to the last trade price,processed within 24 hours.
Actionable next steps for market participants
- Register with a Nasdaq‑approved digital broker – Complete KYC/AML verification by 31 January 2026.
- Set up a compliant wallet – Enable multi‑factor authentication and backup seed phrases.
- Review token prospectus – Examine the “Digital equity Offering Memorandum” for each security.
- Allocate a pilot portfolio – Start with a 5 % exposure to tokenized equities to gauge execution speed and cost savings.
- Provide feedback – Participate in Nasdaq’s quarterly “Tokenization User Advisory Panel” to influence future feature growth.
