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Modernizing Capital Market Operations & Infrastructure

Simplify, standardize & digitalize. New technologies are key to strengthening tomorrow’s markets today.

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Blueprint for Tomorrow's Markets

Future competition will continue to intensify with global participation, new assets and new players fighting for market share. At the same time, settlement times are becoming shorter and, resilience demands are increasing. 

We believe the only way to future-proof for these inevitabilities is to modernize critical infrastructure across the entire value chain. Nasdaq is helping lead this charge through our own markets and technology solutions, as well as blueprints to help drive and guide cloud transformation with our global clients as the foundation for modernization. 

Our Vision

The technology paradigm is shifting quickly and FMIs need to keep pace as participants evolve around them. However, legacy systems are a major obstacle to positioning for the future. Modernization is thus critical to not only increasing resilience and flexibility in the near term but also innovating in the long term, securing new opportunities for FMIs and fortifying markets for everyone. 

Operational Excellence

Change is a constant in capital markets and aging systems make it harder for FMIs to optimize. Embracing cloud and new technologies, deployment models and third-party infrastructure services can help FMIs drive modernization that breeds operational excellence through streamlined processes and automation.

Resilience

Pressure on several fronts is putting resilience in focus, whether increased regulation, participant demands or legacy systems approaching end of life. Modernized infrastructure, built with cloud at the foundation but also encompassing microservices and modular platforms, enables FMIs to allocate resources more effectively while also gaining scale and flexibility.

Standardization

Industry-accepted best practices should be deployed wherever possible to lower participation barriers. Emerging economies in particular can benefit from market infrastructure built with established protocols and APIs, which appeals to international investors.

Software-as-a-Service

SaaS can open new doors for FMIs that embrace the deployment model. At a high level, SaaS can deliver cost efficiencies and scalability; more importantly, SaaS can plug FMIs into continuous improvement and seamless deployment of updates without traditional resource-intensive upgrades, which quickens their time to market and pace of innovation.

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Learn How We’re Empowering Infrastructure Modernization at Speed and Scale

Magnus Haglind, Head of Marketplace Infrastructure Technology, and Valerie Bannert-Thurner, Senior Vice President of Anti-Financial Crime Technology, talk about what defines modern infrastructure     

Nasdaq's Journey to the Cloud

Nasdaq's Accelerated Path to the Cloud

Transforming the Capital Markets of Tomorrow

For the past 50 years, Nasdaq has strived to reimagine markets to realize the potential of tomorrow. With disruption in our DNA, we view technology as the conduit to greater opportunities, everywhere.

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Shaping the Future Financial Ecosystem

Bolsa Electrónica de Chile and Bringing Markets to the Cloud

Nasdaq EVP, Market Platforms Roland Chai discusses how our technology infrastructure supports Bolsa Electrónica de Chile and our global partners on their cloud journeys in a safe and resilient manner.

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What Nasdaq is Doing?

Being an early adopter, we’ve seen first-hand the long-term value that cloud-enabled infrastructure provides to the entire capital markets ecosystem. We gain scale, agility and reliability while also empowering our clients (both exchange participants and exchange operators) through access, experience and performance: 

Markets Migrated to Cloud

Our MRX options market was fully moved to the cloud in 2022, a pioneering migration. The Nasdaq Bond Exchange was next to follow in 2023 with the GEMX options market also scheduled—and more to come.

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AWS Partnership

Our multi-year partnership with AWS, struck in 2021, has accelerated our cloud journey and is aimed at shaping our cloud operations, enabling us to process billions of messages a day and support regulated systems in the cloud.

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SaaS for FMIs

We’re delivering Software-as-a-Service trading technology, as well as post-trade solutions, with the ultimate goal to take our 130+ market infrastructure clients to the cloud.

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Carteret Data Center

The NY11 data center, a marquee investment, broke ground in 2022 and offers connectivity and colocation for participants, while also providing edge computing capabilities to power Nasdaq markets.

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Nasdaq Tech Spotlight Series

Meet Our Customers

Nasdaq Tech Spotlight: Abu Dhabi Securities Exchange (ADX)
Abu Dhabi Securities Exchange (ADX) is transforming the region's capital markets by integrating advanced technology with Nasdaq, creating a more innovative and efficient investment experience for all.
Jan 09, 2026
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How to Craft a Modernization Strategy for Market Infrastructure Unprecedented volume. Major disruptive events. New asset classes. The last few years have put a strain on market infrastructure operators. However, amid the challenges lies an opportunity to position for the future and improve operations via infrastructure modernization with cloud adoption as the foundation. Download the Whitepaper

Market Infrastructure Insights

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Useful Resources

Learn More About Nasdaq's Modernization Journey

We’ve learned many lessons over our decades-long modernization journey and supporting next-gen markets that promote inclusive growth. These experiences have given us valuable insights to share with others working their way down the same path. Here are some educational and thought leadership resources that showcase our commitment to innovation and better capital markets for tomorrow. 

Whitepapers and Factsheets
2024 Outlook: State of Cloud Adoption at FMIs Marketo Form Goes Here. Form ID 5802 Regulatory Considerations for FMIs When Choosing a Cloud Service Provider Marketo Form Goes Here. Form ID 8256 Market Infrastructure Modernization Whitepaper Marketo Form Goes Here. Form ID 5802
Capital Market Operations & Infrastructure

Solutions Built for Global Markets

Capital Markets Technology

Trading Technology

Manage the full range of trading functions - from price formation to order matching - in one solution with robust functionality supporting trading in any asset.

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Marketplace Technology

Nasdaq Clearing Technology

Leverage high-velocity, real-time, cross-asset class clearing and settlement with Nasdaq's Clearing Technology.

Explore Nasdaq's Clearing Technology
Marketplace Technology

CCP Risk Technology

Full CCP risk coverage from position keeping and collateral to dynamic limits and data aggregation.

Explore CCP Risk Technology
Marketplace Technology

CSD Technology

Effectively manage multiple business opportunities including Settlement, Depository, Registry and Asset Servicing.

Explore CSD Technology