Nasdaq (NDAQ) recently released fairly strong 4Q15 financial results, according to which revenue accelerated 3.7% y-o-y to USD 536 mn, above the USD 531 mn median consensus. Organic revenue growth, net of foreign currency effects and M&A transactions, was 9.9% y-o-y. Revenue in the listing segment (USD 68 mn, +11.5% y-o-y) and the information segment (USD 127 mn, +12.4% y-o-y) grew at the fastest pace. Revenue in the market service segment declined 3.0% y-o-y to USD 195 mn, while revenue in the technological decisions segment gained 2.8% y-o-y to USD 146 mn. Adjusted operating profit rose 5.9% y-o-y to USD 251 mn, a record high, while the operating margin climbed 1 pps to 46.8%. Adjusted EPS jumped 9.9% to 89 cents, above the Wall Street median consensus of 88 cents. The company’s performance improved due to robust trading activity, a large number of equity listings (72, including 32 IPOs), and strict cost control. In the fourth quarter, Nasdaq repurchased 1.2 mn of its stocks worth USD 67 mn. The company may buy back another USD 159 mn of stocks as part of the ongoing share buyback program. Quarterly dividend totaled 25 cents (+67% y-o-y), yielding 1.7%. The company is actively involved in transactions on the M&A market. It purchased consulting company Dorsey Wright in early 2015. At the end of 2015, it announced the acquisition of Chi-X Canada, a Canadian trading platform that handles about 22% of the order flow of composite securities in Canada. I believe this transaction will provide Nasdaq with access to the Canadian securities market and will boost its financial performance.I reiterate my positive outlook on Nasdaq (NDAQ), confirm the price target at USD 65 and continue to recommend it as a lucrative mid-term investment opportunity. The short-term technical target is USD 62.