US Nasdaq plans to double headcount at new Bengaluru facility

The American bourse Nasdaq on Monday shifted to a bigger facility in Bengaluru and said it is looking to increase its India back office headcount from the present 250.

"We are looking to grow our headcount and the new office will give us room to double our presence if we want to," Nasdaq spokesperson said in a statement.

The technology stocks focused exchange shifted its backend operations to a newer address within Bengaluru on Monday, which can accommodate over 500 people.

The new facility "will be focused on both business as well as technology innovation, encompassing everything from developing, testing, validating and launching new products," head of the Bengaluru office Bharat Patel said.

"The new site represents our commitment that we are here to stay in the region for the long-term," a company statement said. This assumes importance because the announcement comes amid a growing concern domestically over the future of the outsourcing model with increasing protectionist policies in the US under the Donald Trump administration.

The company said the team has been located in Bengaluru for eight years and originally joined Nasdaq as part of the Thomson Reuters IR, PR and multimedia acquisition

in 2013.