Nasdaq has announced the launch of the Nasdaq Financial Framework, the company’s harmonized approach to delivering robust end-to-end solutions to financial infrastructure providers globally in an open, agile environment.
In addition to being able to integrate a broad range of business functions, the Nasdaq Financial Framework’s unique, purpose-built design enables market operators to easily leverage the latest in technology developments—including Blockchain—and bring new functionality to market more quickly.
Nasdaq has also integrated the framework across all of its business units and will immediately make the Financial Framework available to its more than 100 market operator clients globally, including traditional exchanges, inter-broker dealers and alternative trading venues, clearing houses and central securities depositories (CSDs).
“This is a watershed moment for how market operators integrate and operate their market technology,” said Adena Friedman, President and Chief Operating Officer, Nasdaq. “The Nasdaq Financial Framework is the result of significant R&D efforts and transforms our offering into a modular portfolio that enables a more flexible, tailored approach to each client’s business and their ambitions. We are excited to bring this offering to our clients and prospects who run the infrastructure of the world’s capital markets.”
The framework consists of a single operational core that ties together the deep portfolio of Nasdaq’s proven business functionality across the trade lifecycle, in an open framework whereby exchanges, clearinghouses and CSDs can easily integrate Nasdaq’s business applications with each other, as well as with other external solutions.
“We have closely collaborated with our clients—including Nasdaq’s technology leaders who oversee our markets—to understand and anticipate what the future will require of market operators and how they can address both business challenges and opportunities ahead,” said Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq. “We believe the Nasdaq Financial Framework underscores our dedicated focus on the stability, reliability and resiliency of our systems to ensure that our clients can safely and effectively introduce new technologies into their operations and evolve and expand their business. We are very proud of this new innovation and the potential the Nasdaq Financial Framework brings to the global marketplace.”
The Nasdaq Financial Framework is comprised of three components:
- Nasdaq Core: The heart of the framework, which is an open, deterministic, high-speed communication, operations and resiliency layer. Based on best business practices, the Nasdaq Core is the operational hub driving business applications across the Nasdaq Financial Framework.
- Nasdaq Core Services: A set of optional shared services that empower Nasdaq business applications with additional capabilities beyond the direct connection to the Core for operations, messaging and other core framework services. Services include Connectivity (supporting ITCH/OUCH/ FIX/FIXML/ISO15022/20022), Data Store (collects data from any source connected to the Core), and Blockchain.
- Nasdaq Business Applications: End-to-end portfolio of business functionality supporting the full trade lifecycle. Modular in nature and fully interoperable, Nasdaq Business Applications are seamlessly integrated but decoupled from the Nasdaq Core, making it easy to add new functionality, replace or enhance technology platforms. These applications also enable market operators to boost their competitive edge and meet rapid implementation timelines to launch new markets, models and services.
Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across the USA, Europe, Asia, Australia, Africa and the Middle East.