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Nasdaq exec: A 'phase one' trade deal would give the IPO market the certainty it's looking for

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The U.S.-China trade war has overshadowed Chinese listings in the U.S., but a 'phase one' trade deal would go a long way toward removing uncertainties, says the chairman of Nasdaq Asia-Pacific.

In May, McCooey said he expected over 40 initial public offerings from China in the U.S. in 2019.

On Monday, CNBC's Nancy Hungerford asked if that target would be met. He replied: "We will probably get to close to 35 to 38 again this year." The two sides are currently negotiating a "phase one" deal and there are growing hopes that the partial deal will be agreed. The Chinese Ministry of Commerce said on the weekendHowever, it's not expected to cover more sensitive structural issues that have plagued negotiations for months.

"So therefore some of the valuations haven't really come in exactly where the companies would have wanted and I think they were waiting for there to be some more certainty," McCooey added.Asked whether a phase-one deal between the U.S.

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