Brad Peterson, CTO and CIO of Nasdaq, and Lars Ottersgård, head of Market Technology, were profiled by Waters Technology to talk about Nasdaq's evolution into a technology company, and where the business is going next, focusing mainly on the opportunities inherent in the Nasdaq Financial Framework (NFF).
The NFF represents a new paradigm for Nasdaq, shifting it from an exchange company that offers technology-based solutions, into a fully-fledged technology-first company.
Launched by then-COO, now CEOand President Adena Friedman in 2016, the NFF is a common platform on which all Nasdaq technology runs. Applications are built on top of the framework, with clients able to do the same, rather than building full-stack software packages in isolation. "I think it is a fundamental shift of what we’re doing," says Ottersgård. "When we started this whole NFF journey, it was to put all of our capabilities on one common stack, to ease integration, to ease data management and so on. But we have, in the past couple of years, come to the conclusion that deployed software is not the future. So now NFF is becoming a platform which can be both deployed on-premises where needed, and as a platform-as-a-service to provide services where needed, whether that’s to our internal markets, or to the external clients we have."
Of course, such a major change doesn't happen in a vacuum, and requires not just new thinking, but also new talent. Peterson described his efforts in recruiting students from MIT, his alma mater, for example, where interest in Nasdaq has grown considerably over the years.
Peterson told Waters Technology, "We participate in the January externship and summer internship program. We first started that five years ago. We posted four jobs and received 40 resumes. The next year we posted 10 and received 80, and now we’ve posted 10 positions and we got 124 resumes. For the January externship program, we are one of the largest hirers, right alongside the big tech firms."
Read the full article here to learn more about Brad, Lars, and the Nasdaq Financial Framework.