Nasdaq and the Cloud

Fueling the Next Generation of Markets

With disruption in our DNA, we view technology as the conduit to greater opportunities, everywhere. For more than a decade, we have used the elasticity, rapid scale and innovation capabilities of the cloud to deliver client-driven solutions in data, analytics and technology while evolving our own infrastructure for tomorrow.

As we look to redefine the market ecosystems of the future and tackle transformation of our critical infrastructure for the decades ahead, we are committed to creating an interconnected future – one that is safer and stronger for everyone, in the cloud.

The time has come to concentrate on building the critical market infrastructure in the cloud.
Brad Peterson and Lars Ottersgård, Nasdaq
The Future of Markets Is in the Cloud
Financial markets are part of the critical infrastructure supporting the global economy, and cloud computing offers them limitless opportunity to innovate and grow.

Our Strategy


Our approach to the cloud has been designed with our clients in mind, first and foremost. We believe that markets are for everyone, and we strive to democratize access while providing our clients across the ecosystem with greater agility and the opportunity to get to market with initiatives quicker and with less complexity.


We believe in the benefits that cloud computing will bring to the capital markets ecosystem and are committed to leading development efforts in the cloud, balanced by regulatory, data governance and client requirements.


We have implemented a multi-cloud strategy, working with several public cloud providers to empower us to service the unique needs, varying use cases and diverse geographies of our client community including buy-side organizations, broker-dealers, investment banks, market infrastructure operators, regulators and corporates in 50+ countries.


We are driving markets forward by embracing the cloud to unlock greater business insights, accelerate innovation and optimize operational excellence for the evolution of our participants, the greater capital markets ecosystem and beyond.

  • Gain Unfettered Access

    Cloud can lower barriers of entry for market participation, enabling new participants while also democratizing access to data.

  • Unlock Intelligence

    Cloud computing unlocks an environment that promotes new intelligence by enabling AI-driven technologies and alternative data to reveal unique, undiscovered insights.

  • Fuel Innovation

    The cloud provides the foundation required to take capital markets further, fostering innovation and activating the API economy to produce smarter, more efficient, offerings for Nasdaq, and all ecosystem participants.

  • Drive Digital Transformation

    We believe that implementing a platform strategy in the cloud, we can help fuel the digital transformation required to survive and thrive through the next wave of evolution, with marketplaces as the cornerstone of the digital economy.

  • Grow in Next-Generation Ecosystems

    The cloud has the power to provide marketplaces and participants alike with the agility and scalability required to operate in the next-generation ecosystems with new data sources and asset classes, changing participant make up and an even more interconnected global economy.

Nasdaq Cloud Use Cases

Our Journey to the Cloud

2010: SaaS-Based Trade Surveillance

Acquired best-of-breed SaaS-based trade and market surveillance provider, SMARTS Group which paved the way for industry-standard, cross-market surveillance.

2012: Compliant Books & Records Storage

Established FinQloud, the first ever cloud-based SEC 17a-4 compliant storage for Books & Records.

2014: Revenue Management System

Migrated entire equities transactional billing system of record and the supporting reporting to a cloud environment.

2015: Data Warehouse

Expanded upon transactional billing to cover all Nasdaq US Markets, and consolidated with additional data including regulatory reporting and economic data.

2019: Cloud-Optimized Matching

Launched flexible, SaaS trading engine offering the same rich functionality proven in Nasdaq on-prem installations worldwide.

2020: Cloud Data Service

Extended access to essential market data, including real-time exchange, index and fund data in the cloud, thus modernizing traditional data distribution.

Nasdaq Data Warehouse Captures
Peak Records/Day for US Market Systems
Clouds in the sky
Client-side Encryption Usage, Pioneered by Nasdaq.
We pioneered the use of client-side encryption and customer-managed encryption keys for data storage in the cloud, which has enabled us to use the cloud for sensitive workloads such as our billing system and data warehouse. Advancements in cloud-based key management services have since replaced this early innovation but we are proud to have played a central role in the development.
Nasdaq Data Warehouse Captures
Peak Records/Day for US Market Systems

Cloud Evangelists

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