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Nasdaq Happy To Accommodate Those Exaggerating Its Importance

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Times Square may be a Dantean circle of hell, but it's Nasdaq's Dantean circle of hell. It's also a telegenic Dantean circle of hell, or at least one that media types find conveniently reached from their own Dantean circles of hell. So they're sprucing the place behind the giant Nasdaq billboard up for the hacks who don't seem to notice the decreasing importance of what else happens therein.

The exchange is spending about $10 million to upgrade interiors at its MarketSite building, adding more broadcast-studio space and new conference and event areas for corporate events….

Over the last several years, exchange operators such as Nasdaq and the New York Stock Exchange—its rival exchange in New York—have lost market share to alternative trading venues, such as so-called dark pools, which are mostly private and operated by brokers….

Demand for broadcast space had increased, so the company decided it could create another studio by eliminating its atrium that once extended to the second floor. When the renovations are completed in the second quarter, Nasdaq will be able to accommodate more media requests to broadcast market reports and conduct interviews. New elevators will now open onto the second floor facing Times Square, visible through the large windows.

Nasdaq Is Bullish on Times Square Backdrop [WSJ]