Trading and Matching Technology

Fulfill tomorrow's trading requirements, today.

Nasdaq’s trading and matching engine technology provides marketplaces and execution venues of all sizes with reliable, comprehensive, multi-asset capabilities to keep pace with ever-changing market requirements. Built upon the Nasdaq Financial Framework (NFF), marketplaces 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 and built upon our renowned INET messaging system, Nasdaq's trading and matching engine software continually raises the bar in performance. The technology features among the lowest latency in the industry at sub-40 μSec, with our fastest implementation at 14 μSec latency door-to-door. The solution operates in a proven, resilient infrastructure featuring a high degree of system uptime, availability and seamless failover, keeping you up and running even under the most intense market conditions. And, with an agile, modular infrastructure built for change, you can easily scale up and scale out as your marketplace evolves or expand into new asset classes and offer additional services. 

Key features: 

• Comprehensive coverage
  A matching engine for all asset classes, from equities to exotic derivatives to digital assets, and market models. Offers specialized functionality for derivatives and hybrid models, as well as matching with flexible attributes.

• High-performance matching
  Extensive order book functionality supports a wide array of order types combined with ultra-low door-to-door latency and high availability in a proven, resilient environment.

• Scalable for marketplaces of all sizes
  Supports marketplaces from big to small, and simple to complex, easily scaling as you add more volume, asset classes or marketplaces to your matching engine.

• Global connectivity
  Leverages industry standard connectivity protocols and APIs for FIX, ITCH and OUCH and an easy-to-use trading workstation to improve member onboarding and system integration

• Robust regulatory framework
  Adopts best-in-class international practices within a robust regulatory framework, based upon knowledge and experience of running Nasdaq markets and marketplaces in 50+ countries

• Cloud availability
  Cloud-optimized matching is available to support B2B, B2C and C2C trading models in a 24x7x365 environment with dynamic scaling for order size and trading volumes.