NYSE Group President Lynn Martin criticized recent rule changes by Nasdaq aimed at attracting high-profile IPOs, such as SpaceX's recent decision to list on Nasdaq. Martin expressed concerns on Bloomberg Television about the potential compromise of market integrity due to these changes. Nasdaq recently eliminated the 10% public float requirement for certain firms and allowed large-cap companies to join the Nasdaq-100 index within 15 days of trading, which Martin described as "questionable." The rivalry between NYSE and Nasdaq for major listings is intensifying as the IPO market heats up in 2026. Martin's remarks highlight concerns over a "race-to-the-bottom" dynamic, where exchanges might lower standards to secure marquee listings. These changes could pose risks to investors, as reduced public float can lead to price volatility, and expedited index inclusion may inflate valuations artificially.