Trading and Matching Technology

Provides flexible, multi-asset trading capabilities for marketplaces of all sizes

This Solution Helps

  • Marketplaces
  • Banks
  • Corporates
explore

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.

The most widely used matching technology. On the planet.
Powering trading at more than
70
markets globally
A network of connection points above Earth
Proven and in use in six continents
Nasdaq's matching engine software leverages our in-house knowledge of running marketplaces in 10 countries plus the practical experience of working with marketplaces of all shapes and sizes, from Bermuda to Bangladesh, and many place in between.
Powering trading at more than
70
markets globally

2022 Outlook: Key Technology Trends Impacting Market Infrastructure Organizations

2022 Outlook: Key Technology Trends Impacting Market Infrastructure Organizations

Nasdaq Head of Market Infrastructure Technology Magnus Haglind joins Jill Malandrino on TradeTalks to discuss key technology trends that may impact Market Infrastructure Organizations globally.

Jan 19, 2022

How can Nasdaq's matching engine software take your marketplace to the next level?

Reduce the cost and complexity of your trading operations

Utilize a single platform for all of your market needs – across asset classes, currencies and geographies.

Capitalize on opportunities early and launch new markets quickly

Rapidly respond to new market opportunities with an adaptable and flexible infrastructure. Rapidly implement new marketplaces with robust multi-matching engine capabilities that enable use of multiple engines on a single platform.

Preserve your ecosystem — future-proof your infrastructure

Nasdaq's matching engine software seamlessly integrates with other Nasdaq business applications as well as custom-built or third-party business functionality and solutions.

Reduce operational risk

Reduce operational risk across multiple points with a unified operational core powering all business applications, and a proven track record with high availability, resiliency and uptime in demanding market conditions.

Deliver trading projects on time and on budget

Use Nasdaq's delivery and advisory services to ensure that your systems are delivered on time and on budget utilizing a proven delivery methodology that has been applied with 130+ customers globally.

Develop a true partner in Nasdaq

Benefit from Nasdaq's continuous R&D investments in emerging technology to ensure your systems are always on pace, while also knowing that a deep balance sheet and stable financial performance ensure that your technology investment remains safe and secure well into the future.

INTRODUCTION OF DIGITAL ASSETS
50%
of MI CIOs are in the planning phase for crypto-related services
Market Infrastructure CIO Study 2021
At the Top of the CIO’s Agenda
Celent surveyed CIOs across market infrastructure (MI) operators globally to find out how they are addressing digital transformation and their most prioritized investment areas leading up to 2025. The results show a strong focus on improving agility, product creation capabilities and customer centricity.
Get the 2021 MI CIO report
INTRODUCTION OF DIGITAL ASSETS
50%
of MI CIOs are in the planning phase for crypto-related services
Nasdaq Tech Customer Stories
Jamaica Stock Exchange
"There are no boundaries that are beyond the JSE, as the organization continues to explore the use of technology that Nasdaq provides to ensure that our shareholders value are maximized and the confidence of the market remains high."
Marlene Street Forrest, Managing Director
Jamaica Stock Exchange
By tapping Nasdaq’s technology, the JSE, as part of its strategy will be able to bolster their product and service delivery regionally and globally. Further, via the Nasdaq Matching Engine, JSE will have the ability to offer new products, enhance current trading capabilities and improve the latency of order execution.
Access more Nasdaq Tech stories
Trading technology benefits for
SME
Exchanges
Abstract image representing global connectivity and technology
Set for Growth
Learn how National Stock Exchange of Australia’s recent trading technology upgrade facilitates improved:
• Competitive advantage
• Compliance with market integrity rules
• Customer experience
Watch the video
Trading technology benefits for
SME
Exchanges

Nasdaq Technology Ecosystem: Customer Stories

Breaking Marketplace Boundaries
Nasdaq Technology Powers
130+
markets on the planet - from traditional capital markets, to tokenized assets, cryptocurrencies & real estate
abstract tech circle
Nasdaq Marketplace Services Platform
A robust foundation for both existing and new marketplaces to optimize operations, reduce complexity and accelerate ability to get to market quickly, activating new revenue opportunities.
How can we help develop your marketplace ecosystem?
Nasdaq Technology Powers
130+
markets on the planet - from traditional capital markets, to tokenized assets, cryptocurrencies & real estate
Nasdaq Financial Framework
A single platform.
NFF
for all of your needs.
Nasdaq Financial Framework
Agile. Reliable. Scalable.
The Nasdaq Financial Framework (NFF) is the foundation for end-to-end marketplaces operations, supporting price formation, matching and pre-trade risk through market surveillance, clearing and settlement.
Learn more about NFF
A single platform.
NFF
for all of your needs.

Seamless Integration via NFF

Resource Center

  • CIO Market Infrastructure Survey 2021

    Whitepaper

    CIO Market Infrastructure Survey 2021

    Celent interviewed CIOs and senior technology leaders of global market infrastructure to understand their focus, priorities, and investments around the creation of their future platform. Download the report to take part of their insights.

    Data is currently not available
  • Nasdaq Decodes: Tech Trends 2021 View Nasdaq Decodes: Tech Trends 2021
  • Nasdaq Decodes: Tech Trends 2020 View Nasdaq Decodes: Tech Trends 2020
  • Nasdaq Decodes: Tech Trends 2019

    Whitepaper

    Nasdaq Decodes: Tech Trends 2019

    Data is currently not available
  • CIO Priorities in Capital Markets Infrastructure

    Whitepaper

    CIO Priorities in Capital Markets Infrastructure

    Data is currently not available
  • Nasdaq Financial Framework for Marketplaces

    Brochure

    Nasdaq Financial Framework for Marketplaces

    Data is currently not available
  • Nasdaq Financial Framework Overview

    Brochure

    Nasdaq Financial Framework Overview

    Data is currently not available

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