The Ottawa-headquartered commerce company will be added to the index on May 19, replacing MongoDB, Nasdaq announced on Friday. Shopify’s share price rose as much as 15.9 per cent in Monday trading. (The Logic)

Talking point: The Nasdaq- 100 includes the exchange’s largest non-financial companies by market capitalization, a list that features tech giants like Alphabet, Apple and Netflix. Nasdaq itself claims joining the index boosts a firm’s share price. Some of the world’s biggest exchange-traded funds—which mimic the makeup of particular indices—track the Nasdaq- 100, so their asset managers will likely need to buy Shopify stock once it’s added. The Canadian firm has been working to increase its exposure to American investors, shifting its U.S. listing from the New York Stock Exchange to the Nasdaq in March and beginning to cite a “principal executive office” in New York alongside its Ottawa headquarters in securities filings.