Friedman replaces Michael Splinter, who will take on the role of lead independent director for the exchange operator.

Friedman has been Nasdaq's CEO for over five years. Under her watch, the company has diversified its offerings by focusing on software and anti-financial crime technology.

(Reporting by Niket Nishant and Anirban Chakroborti in Bengaluru; Editing by Anil D'Silva)