{"product_id":"nasdaq-bcg-matrix","title":"NASDAQ Boston Consulting Group Matrix","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eActionable Strategy Starts Here\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eThe NASDAQ BCG Matrix preview highlights how listed companies and their core products map across Stars, Cash Cows, Question Marks, and Dogs—revealing growth potential, cash generation, and risk at a glance; purchase the full BCG Matrix for a complete quadrant-by-quadrant breakdown and actionable strategies tailored to each business segment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003etars\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAnti-Financial Crime and Fraud Technology\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eBy end-2025 Nasdaq has reinforced dominance in regtech after integrating Verafin (anti-financial crime SaaS) and Adenza (risk and treasury), creating a combined revenue stream exceeding $1.2bn annualized and reaching clients in 3,000+ financial institutions.\u003c\/p\u003e\n\u003cp\u003eThe segment sits in a high-growth market—global AML and fraud tech spending projected at $45–50bn by 2027—with Nasdaq capturing a leading share in the specialized SaaS vertical.\u003c\/p\u003e\n\u003cp\u003eHigh market share drives substantial topline growth but demands ongoing R\u0026amp;D and integration capex, roughly $150–200m yearly, to sustain product development and margin expansion.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIndex Data and Intellectual Property\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe shift to passive investing keeps driving Nasdaq-licensed products, with Nasdaq-100 ETFs holding roughly $1.1 trillion in AUM by end-2025 and thematic tech index-linked funds up ~18% YoY; these indices power many top ETF launches. \u003c\/p\u003e\n\u003cp\u003eNasdaq Index Data and IP commands a leading market share in growth-oriented products, capturing sizable institutional and retail flows from EMEA and APAC, while needing ongoing capex for branding and global data distribution. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketplace Technology SaaS Transitions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eNasdaq’s Marketplace Technology unit has shifted major legacy exchange clients to cloud SaaS, capturing roughly 28% of the global market-infrastructure modernization deals by Q3 2025 and signing $210m ARR in migration contracts through 2024–25.\u003c\/p\u003e\n\u003cp\u003eCloud adoption in capital markets grew ~32% CAGR 2022–25; this sustained high growth keeps the unit in the NASDAQ BCG Stars quadrant despite negative free cash flow as R\u0026amp;D and platform scaling consumed $145m in 2025.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eESG Data and Corporate Solutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eNasdaq's ESG Data and Corporate Solutions sits in the Stars quadrant as stricter global sustainability mandates by late 2025 drove a ~28% CAGR in ESG services, helping Nasdaq grow ESG revenues to $420M in 2024 and capture ~22% market share in corporate ESG data and advisory.\u003c\/p\u003e\n\u003cp\u003eHigh growth persists as companies seek standardized reporting and climate-risk analytics; Nasdaq is increasing R\u0026amp;D and M\u0026amp;A spend (\u0026gt;$150M planned for 2025) to fend off fintech challengers and scale platform adoption.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 ESG revenue $420M\u003c\/li\u003e\n\u003cli\u003e~28% CAGR in ESG services (2021–24)\u003c\/li\u003e\n\u003cli\u003e~22% market share in ESG data\u003c\/li\u003e\n\u003cli\u003e$150M+ planned 2025 investment\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAdvanced Analytics and Adenza Integration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAdvanced Analytics and Adenza integration places Nasdaq in a leader spot for end-to-end treasury, risk, and regulatory software after the 2023 Adenza acquisition; the unit targets tier-one banks seeking consolidated data platforms and addresses a global market projected to grow ~11% CAGR to 2028 (estimated $45bn total addressable market in 2025).\u003c\/p\u003e\n\u003cp\u003eHigh market share from Adenza means ongoing integration capital—Nasdaq disclosed $200–300m in integration and product investment through 2025—but the business is expected to convert to a large cash generator as recurring SaaS revenue exceeds $1bn annualized by 2026 if client retention stays above 90%.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLeader in end-to-end treasury\/risk software after 2023 Adenza buy\u003c\/li\u003e\n\u003cli\u003eServing tier-one banks; TAM ~ $45bn (2025); ~11% CAGR to 2028\u003c\/li\u003e\n\u003cli\u003e$200–300m integration spend through 2025; SaaS run-rate target \u0026gt;$1bn by 2026\u003c\/li\u003e\n\u003cli\u003eRetention \u0026gt;90% key to convert to strong cash generation\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-Stars-Star-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNasdaq Power Plays: Regtech, ESG, Marketplace \u0026amp; Adenza Drive $1.6B+ ARR Momentum\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eNasdaq’s Stars: Regtech, Index\/IP, Marketplace Tech, ESG, and Adenza-driven Treasury each show high growth and leading share—combined regtech\/IP\/ESG ARR \u0026gt;$1.6bn (2024–25), ESG rev $420M (2024), Nasdaq-100 ETF AUM $1.1T (2025), Marketplace migration ARR $210M, cloud capex\/R\u0026amp;D ~$145–200M yearly; retention \u0026gt;90% critical for Adenza to exceed $1bn SaaS run-rate by 2026.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eESG rev (2024)\u003c\/td\u003e\n\u003ctd\u003e$420M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNasdaq-100 ETF AUM (2025)\u003c\/td\u003e\n\u003ctd\u003e$1.1T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarketplace ARR (2024–25)\u003c\/td\u003e\n\u003ctd\u003e$210M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eR\u0026amp;D\/Capex (yr)\u003c\/td\u003e\n\u003ctd\u003e$145–200M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eComprehensive NASDAQ BCG Matrix analysis: quadrant definitions, strategic moves, investment priorities, and macro\/micro trend impacts.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eOne-page NASDAQ BCG Matrix placing each stock in a quadrant for quick portfolio decisions\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eash Cows\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eU.S. Equity Listing Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eNasdaq controls roughly 40%–45% of U.S. listings and led 52% of technology\/growth IPOs in 2024, keeping market dominance in a mature segment where brand and ecosystem lower marginal costs.\u003c\/p\u003e\n\u003cp\u003eAnnual listing and recurring fees generated about $1.1B in 2024, delivering high-margin cash flow that funds Nasdaq’s growth initiatives like data services and market technology.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCash Equity Trading and Execution\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe core cash equity trading and execution business in the U.S. and Nordics holds a market share above 30% in key venues and operates in a mature, low-growth market (annual trading volume growth ~1–2% in 2024–25);\u003c\/p\u003e\n\u003cp\u003edespite tight fee competition, deep liquidity pools and existing infrastructure delivered a 2025 segment EBITDA margin near 45% and generated roughly $1.2B free cash flow, funding corporate debt service and dividends.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCore Market Data Feeds\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eProprietary market data feeds are core cash cows for Nasdaq, with recurring subscription revenue—NASDAQ reported market services revenue of $2.3B in 2024, much from data products—high margins and stable institutional demand keep market share high despite a mature basic-price-data market.\u003c\/p\u003e\n\u003cp\u003eNiche value-added feeds (low-latency, analytics) sustain ARPU growth; firms pay for reliability, so Nasdaq spends minimally on promotion and invests in resilient distribution networks and uptime SLAs instead.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTrade Management and Connectivity Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eNasdaq’s Trade Management and Connectivity (colocation, fiber, market data feeds) runs in high-demand data centers serving HFT and institutions, holding a dominant market share—colocation revenue was about $1.15 billion in 2024, up ~2% year-over-year, reflecting steady cash generation but low growth.\u003c\/p\u003e\n\u003cp\u003eThe segment yields strong operating margins (mid-60s%), generates predictable recurring cash flow, and funds Nasdaq’s growth areas while growth rates are forecast low single digits through 2026.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2024 revenue ≈ $1.15B\u003c\/li\u003e\n\u003cli\u003eYoY growth ≈ 2%\u003c\/li\u003e\n\u003cli\u003eOperating margin ~65%\u003c\/li\u003e\n\u003cli\u003eLow-single-digit future growth\u003c\/li\u003e\n\u003cli\u003eCritical infrastructure = high market share\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEuropean Derivatives Trading and Clearing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eNASDAQ’s European derivatives trading and clearing, dominant in Nordic and Baltic markets, held roughly 60–70% market share in 2024, generating stable fee income from mature volumes and low churn.\u003c\/p\u003e\n\u003cp\u003eHigh regulatory barriers and capital-intense clearing requirements keep new entrants out, producing ~25–30% operating margins and predictable quarterly volume cycles tied to FX and energy contracts.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRegional share 60–70% (2024)\u003c\/li\u003e\n\u003cli\u003eOperating margin ~25–30% (2024)\u003c\/li\u003e\n\u003cli\u003eLow new-entrant risk: high capital + regulation\u003c\/li\u003e\n\u003cli\u003eRevenues correlate with FX\/energy volume cycles\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/BCG-Content-CashCows-Icon-Dollar-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eNasdaq’s $5.8B cash cows drive $2.4B cash, high margins and steady low-single-digit growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eNasdaq’s cash cows—listing fees, market data, colocation, and core trading\/clearing—generated ~ $5.8B revenue and ~$2.4B operating cash in 2024, with margins 45–65% and low-single-digit growth forecast to 2026; high market shares (listings 40–45%, data services \u0026gt;30%, colocation $1.15B) fund data\/tech investments.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal cash-cow rev\u003c\/td\u003e\n\u003ctd\u003e$5.8B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOp cash\u003c\/td\u003e\n\u003ctd\u003e$2.4B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMargins\u003c\/td\u003e\n\u003ctd\u003e45–65%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGrowth\u003c\/td\u003e\n\u003ctd\u003e1–3%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview = Final Product\u003c\/span\u003e\u003cbr\u003eNASDAQ BCG Matrix\u003c\/h2\u003e\n\u003cp\u003eThe file you're previewing on this page is the exact NASDAQ BCG Matrix report you'll receive after purchase—no watermarks, no demo pages—fully formatted and analysis-ready for strategic use. This preview mirrors the final deliverable, crafted with market-backed insights and clear visualizations, and will be sent directly to your inbox for immediate editing, printing, or presentation. Purchase grants instant, one-time access to a professional, plug-and-play asset for your planning or client work.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56748477350265,"sku":"nasdaq-bcg-matrix","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/nasdaq-bcg-matrix.png?v=1772208583","url":"https:\/\/matrixbcg.com\/products\/nasdaq-bcg-matrix","provider":"MatrixBCG","version":"1.0","type":"link"}