Nasdaq announced today the launch of the Marketplace Services Platform. The platform provides next-generation marketplace capabilities spanning the transaction lifecycle to facilitate the frictionless exchange of assets, services and information across various types of market ecosystems and machine-to-machine transactions.
Capabilities include, but are not limited, to standard financial assets, tokenized assets, credit card receivables, loyalty points, real estate, insurance contracts, gaming and wagering and more, according to Nasdaq.
The already established universal marketplace services, which includes matching, risk management and market surveillance, will be accessible on the platform.
“As the industry evolves and markets move to the next phase of digitalization, there is increased demand for seamless access to standard infrastructure components and capabilities,” said Magnus Haglind, SVP and head of product management, market technology at Nasdaq. “By creating the Marketplace Services Platform, we are providing marketplaces cloud-based, turnkey infrastructure components and a platform to plug and play as they build, adapt and expand their business. We see this potentially becoming the de facto operating model for marketplaces worldwide.”
“We are at an inflection point in the capital markets,” said Brad Bailey, research director at Celent. “Building one’s own technology stack from application to infrastructure, without leveraging a platform with access to an ecosystem of partners for technology, services, cloud is becoming more difficult to justify. The firms that win in this complex, challenging, and ultra-competitive time focus the bulk of their efforts on their core value proposition, and partner or outsource the rest.”
Digital Assets Suite
Complementing the rollout out the Marketplace Services Platform, Nasdaq is now offering its Digital Assets Suite. The suite of services, which is both DLT-agnostic and multi-cloud, is designed specifically to support the transaction lifecycle of digital assets and tokenized markets leveraging DLT technology to facilitate issuance of the asset through matching, custody, delivery and payment.
In addition to the launch of the Digital Assets Suite, Nasdaq revealed it is collaborating with Microsoft on designing solutions for next generation marketplaces. The Nasdaq Digital Assets Suite will also be accessible for marketplaces in Azure.
By leveraging the API economy, the Nasdaq Marketplace Services Platform will also provide its customers greater choice and flexibility, easily integrating other providers and ISVs with improved interoperability for the entire ecosystem, according to Nasdaq.
Nasdaq is also working with Digital Asset, R3 and Symbiont to deliver technology through the Marketplace Services Platform to meet the diverse needs and unique models of tokenized and digital assets marketplaces from cryptocurrency to real estate and other areas.
Benefits of the Marketplace Services Platform include a one service-based platform and a purpose-built SaaS platform.
Operational complexity is reduced and access to a range of services via robust API portfolio across the transaction lifecycle is enabled.
The platform decreases time to market compared to on-prem delivery cycles, provisioning market infrastructure in weeks to months, versus much longer time horizons and continuously enhances performance and functional depth through frequent release cycles, absent continuous patch cycles to manage.
Another benefit are proven security protocols.
The platform leverages capital markets infosec standards established, proven and in use in 120+ MIO in some of the world’s most demanding markets across a number of jurisdictions, as well as in Nasdaq’s established SaaS offerings.
Nasdaq’s market technology powers more than 250 of the world’s market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.
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