On Wednesday, Nasdaq Inc said that it is reorganising its business into three divisions to focus on major growth areas as the competition among trading exchanges has been intensifying over time.

Nasdaq said that Market Platforms, Capital Access Platforms and Anti-Financial Crime would be the new units that would focus on digital assets, carbon markets, providing investment intelligence apart from US equities.

Nasdaq, the New York-based stock exchange, which competes with CBOE Global Markets, NYSE and its parent Intercontinental Exchange (NYSE:ICE) Inc and BATS Global Markets, stated the fourth quarter and full year 2022 results would reflect the changes.

Nasdaq’s measures to streamline its operations come after the sector, which largely catered to stocks and derivatives, experienced an upgrade as cryptocurrencies attained popularity. Last week, Nasdaq launched a digital assets business that places it in direct competition with crypto exchanges Binance and Coinbase (NASDAQ:COIN) Inc.

It also extended its anti-financial crime technology to catch and curb money laundering, fraud and market abuse risks. A few months ago, a federal judge dismissed long-running litigation cases accusing seven US stock exchanges of defrauding ordinary investors by quietly allowing high-frequency traders to trade faster and at better prices.