Abstract Tech

What You Need to Know About Nasdaq’s Award-Winning Financial Technology Products

Last month, Nasdaq was lauded for its industry-leading Financial Technology products at the WatersTechnology Sell-Side Technology Awards: securing wins for both the best sell-side market surveillance product for the Nasdaq Market Surveillance (NMS) and Nasdaq Trade Surveillance (NTS) systems, and best use of the agile methodology for the Nasdaq Risk Platform (NRP).

This is the first time that Nasdaq’s risk platform has been recognized for its unique ability to help clients protect their organizations while remaining competitive.

Let us take you behind the scenes of these award-winning products and how they are uniquely placed to help companies mitigate, manage, and capitalize on the complexities of today’s ever-evolving financial system.  

The Nasdaq Risk Platform Breaks Through

Malcolm Warne, Head of Product for the Nasdaq Risk Platform, spoke about the product’s first win and how it came about.

Warne explained how the NRP’s sophisticated set of tools assists clients by providing transparency into market risks and helping them defend against the impacts of said risks on their bottom line.

"We measure [risk] in real time so [customers] can move very quickly,” Warne explained. “If something bad is happening, we let them know about that very clearly so they can take prompt action.” This proactive approach allows clients to efficiently defend against potential financial impacts.

In its explanation of its decision, WatersTechnology pointed to how Nasdaq’s technology can quickly adapt to customer needs and customize its offering to meet them where they are. The judges noted that “Agile methodology-focused categories have been part of WatersTechnology’s various awards programs for the best part of a decade, and in all that time no entry has better articulated the value and effectiveness of the development framework than this one from Nasdaq. The beauty of agile is that new functionality is drip-fed into the product regularly, ensuring that it is always current and its evolution is driven in collaboration with its end-users.”

Warne emphasized how Nasdaq’s utilization of the cloud has made the NRP deployment relatively seamless. Because of that, heads of trading, CTOs, and risk managers at client firms love the technology, which solves their “risk management headaches.”

“Our clients can potentially trade more and safely take on more risk because they know they have the right risk controls in place,” he said.

What makes Nasdaq’s risk monitor unique, Warne added, is that it relies on rapid iteration to deliver value to customers in a short amount of time.

“Taking a little idea, iterating, and getting it to everyone quickly is quite rare in our space.”

Keeping Markets Trustworthy and Safe

Nasdaq also took home the award for best sell-side surveillance product for Nasdaq Market Surveillance (NMS) and Nasdaq Trade Surveillance (NTS), for which it won the same award last year.

These two products help ensure fair, transparent, and safe markets by detecting signs of abuse, and ensuring customers have quick and actionable access to information to navigate potentially harmful situations. Nasdaq draws on the knowledge base of its internal teams as well as its large network of customers to assist clients in staying compliant with regulatory requirements.

In its evaluation of the surveillance suite, WatersTechnology noted Nasdaq’s secret sauce centered around its expansive coverage, offering data access to over 200 markets; all asset classes, including OTC and crypto; issuing more than 300 preset alerts for market abuses; and providing a wide aperture view of the price spread across trading activity.

“Readers will be familiar with the exchange operator’s hugely successful… offering, which has ruled the market surveillance roost for the best part of a decade,” reads the decision. “Nasdaq has built on that legacy by providing the sell side with what can best be described as the all-singing, all-dancing market surveillance platform that not only takes care of individual firms’ surveillance needs, but those of exchanges and regulators, too.”

Fitting In With the Larger Mission

These dual award wins are an expression of the mission and values of Nasdaq’s Financial Technology unit, which provides mission-critical capital markets and regulatory technology solutions to the financial services industry. It accomplishes this goal through offering Capital Markets Technology Solutions and Regulatory Technology Solutions to clients.

Nasdaq Financial Technology’s purpose is to help banks, brokers, regulators, financial infrastructure operators, and buy-side firms solve difficult challenges while maintaining up-to-date technology and practices. Both the Nasdaq Risk Platform and Nasdaq Market and Trade Surveillance are crucial, acclaimed technologies that help clients meet those challenges successfully.

Learn more about Nasdaq’s Financial Technology Solutions here.

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