LEX, the leading commercial real estate securities marketplace that enables accredited and unaccredited investors to invest in individual properties, announced it has partnered with Nasdaq to power its trading platform. LEX will leverage the cloud matching service via the Nasdaq Marketplace Services Platform to provide the same robust, low latency and high-performance trading features used by 120+ global market operators around the world. The technology partnership sets a new market infrastructure standard for trading real estate securities and establishes an exclusive trading venue for commercial real estate securities.
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“We look forward to working with LEX as their technology provider as they reimagine real estate securities trading to make the multi-trillion U.S. commercial real estate market more open and transparent.”
Nasdaq’s Marketplace Services Platform will serve as the underlying technology for LEX’s alternative trading system (ATS). The technology, which is designed with the rigorous regulatory, reliability and security standards proven in financial markets, will provide LEX with a full range of trading functions, interfaces and surrounding market operations capabilities in a dynamic environment that can flexibly adjust as LEX’s business evolves. With road-tested technology in place, LEX will unlock previously unavailable matching opportunities between property owners and retail and institutional investors at speed and scale. The company will also be able to demonstrate integrity and trust through transparent price formation mechanisms that inspire confidence for participants and investors.
“We are excited to forge this partnership with Nasdaq and create the most powerful platform for trading real estate securities,” said Drew Sterrett, co-founder and CEO of LEX. “Nasdaq’s market leading technology will allow LEX to scale with the sophistication of a global market and helps us achieve our mission of opening access to the asset class for both retail and institutional investors. Properties have historically traded hands over the course of years. Nasdaq is providing us with the technology to make it happen in under a second.”
