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Nasdaq exec: We're 'still the home of tech'

The Nasdaq is still "the home of tech," the company's head of global listing, Bruce Aust, said Thursday.

The pronouncement came after Chinese e-commerce giant Alibaba officially announced it will list its initial public offering on the New York Stock Exchange instead of Nasdaq.

"We've had 18 tech IPOs so far this year, and we're also winning companies from other sectors," he added. "Michaels Stores is trading on the Nasdaq tomorrow. "


On CNBC's "Fast Money," Auth said, "When you have a strength in a certain sector, your competitor is going to want to try and steal that strength. But we're still the home of tech and we always will be."

GoPro, which held its IPO on the Nasdaq on Thursday, saw its shares surge 30 percent in its first day of trading.

The Nasdaq has 3,400 companies listed with a combined market cap of $8.5 trillion.

By CNBC's Kristin Cwalinski

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