Each year, FOW Global Investor Group presents its FOW International Awards, recognizing the best and brightest innovations in the derivatives industry. At a ceremony held in London on December 6, 2022, Nasdaq’s Trading & Matching Technology received the award for Trading & Execution Solution of the Year.
We spoke to Carl Slesser, Vice President & Head of Product – Trading Technology, to learn more about the solution and what developments Nasdaq’s Trading and Matching Technology has planned for the future.
Can you tell us more about Nasdaq’s trading technology portfolio and what makes it unique in the financial services industry and beyond?
Carl: In addition to owning and operating 30+ exchanges in 10+ countries, Nasdaq provides trading and matching technology solutions to more than 70 marketplaces globally. We’re unique in that we provide technology to a broad spectrum of marketplaces in terms of size, sectors, asset classes, and market models. They range from large exchange-group peers to broker-dealers’ dark pools and single-dealer platforms. We also recently began providing technology to new types of marketplaces that are looking to offer trading services in emerging assets, for example, carbon credits, digital assets, and cryptocurrencies.
Available to be deployed on-premise as well as on cloud infrastructure, Nasdaq’s trading and matching technology provides multi-asset capabilities to keep pace with the evolving market requirements. Marketplaces and exchanges can manage the full range of trading functions – from price formation through order matching – in a single solution with robust functionality supporting trading in any asset, anytime, anywhere.
Road-tested under the most demanding market conditions, Nasdaq’s trading technology continually raises the bar in performance. It operates in a proven, resilient infrastructure featuring a high degree of system uptime and availability, keeping marketplaces up and running even under the most intense market conditions. And, with a modular infrastructure built to support change and agile development, marketplaces can easily scale and expand into new asset classes and services.
What excites you most about the award with FOW?
Carl: At the FOW Awards Ceremony, one of the judges said, “best in class technology coupled with forward-thinking mentality. Difficult to beat!” I think this citation emphasizes exactly what we do at Nasdaq. Four to five years ago, we embarked on a journey to deliver trading technology in the public cloud, and we’re proud to have succeeded in that effort. Clients can now implement the Nasdaq Marketplace Services Platform, which is deployed as a SaaS solution in the cloud and supports many asset classes – from equities to exotic derivatives and digital assets. Some recent go-lives include two digital asset platforms in Brazil: XP, Inc.’s XTAGE and Digitra.com. We’re very excited and honored to receive this tremendous award that highlights our hard work and innovation.
What does the future look like for Nasdaq Trading & Matching Technology?
Carl: Nasdaq will continue to advance our trading solutions by building out and enhancing capabilities and features to cater to market infrastructure operators trading a wide array of asset classes. A recent innovation is multi-parameter matching, which allows buyers and sellers to select specific criteria, and the trading engine will find a suitable match. All orders are collected into one order book, which increases liquidity. If a match can’t be found, the order is stored in the order book, and a match will occur when the right sell order is submitted.
Generally, we’re looking forward to progressing in our journey to the cloud and helping our clients with their own journeys. We’ll continue to provide technologies to support trading in traditional asset classes, but we’ll also extend support for cryptocurrencies, digital assets, and carbon credits, which we believe are growth areas. Finally, we welcome opportunities to provide technologies to other industries that wish to match buyers and sellers using the financial services paradigm.
To learn more about the Nasdaq Marketplace Services Platform, please visit our website.
Marketplace Services Platform
A nimble, cloud-based format to support digital assets exchanges and cryptocurrency markets.