NEW YORK (TheStreet) --On Monday Nasdaq announced that current CEO Robert Greifeld will be stepping down and replaced by COO Adena Friedman as of January 1, 2017. Greifeld, who has been leading the trans-Atlantic stock exchange since 2003, will take on a new role and become Chairman of the Board.
"The great news is that I have been working with Bob for 10 years and most notably when I came back president and now COO, he and I have been really partnering together to make sure that we're optimizing the business," Friedman said Tuesday afternoon in an appearance on "Bloomberg Markets: America."
She feels she has a solid hand in everything that has been going on at the Nasdaq for the last two years and is focused on making sure Nasdaq remains a critical infrastructure and technology provider to the markets.
"Technology is deeply embedded in our DNA, it's how we got started as an exchange, to be the first electronic exchange. I think that will continue to be our focus and how we can bring emerging technologies and really drive them to allow our clients to interact with the capital markets," she continued.
Friedman was questioned about any changes that could be expected at the Nasdaq. She responded by pointing out that they have been transforming into a global technology provider and she expects to remain on that path.
As the interview progressed the topic inevitably turned to the results of last week's presidential election and what the markets can expect from President-Elect Trump and how that will impact the Nasdaq.
"To the extent that we do in fact now have a Republican administration and to the extent that they continue to show a pro-business orientation that does tend to come with some level of what I'll call 'balance and regulation.' And one of the significant areas of regulation that has impacted our industry over the last seven years has really been Dodd-Frank," Friedman said.
Noting that Dodd-Frank has placed some good safeguards in the industry, there have been some "unintended consequences" of the act, Friedman said. Namely that banks are not in a position to offer liquidity into some of the markets that the Nasdaq operates in.
"We'd love to see the opportunity for Dodd-Frank to be modified to allow banks to take responsible risk-taking into the markets as they have to provide that really, really important liquidity," she continued.
President-Elect Trump has stated that his administration will take down the 2010 law that placed federal regulations on financial institutions after the financial crisis.