• Marks a major milestone in Nasdaq Calypso’s strategy to serve as the trusted orchestration layer connecting agents across capital market and treasury workflows
• Introduces agentic capabilities, including a natural language assistant to automate analysis of the platform’s system-of-record data

Nasdaq launched a framework for integrating AI capabilities within capital market and treasury operations, addressing some of the bottlenecks that are preventing scaled institutional adoption. At its core, Nasdaq has established an agentic AI operating environment within its Nasdaq Calypso platform, providing financial institutions with a contained, governed space to run, connect, and scale AI agents across the trade lifecycle.

“For institutions to adopt AI agents at scale, they need a trusted, governed infrastructure inside the capital market platforms they already run, a place to connect agents from many different sources to real workflows, data, and controls,” said Magnus Haglind, Head of Capital Markets Technology at Nasdaq. “By integrating agentic capabilities and serving as the orchestration layer, we are evolving Nasdaq Calypso from a system of record into an intelligent platform that automates activity at every stage of the trade lifecycle.”

AI has enormous potential across capital market workflows to enhance risk controls, reduce settlement failures, and transform operational data into automated actions. According to a recent Nasdaq and Acuiti survey, almost half of respondents highlighted challenges relating to manual intervention within their post-trade operations, while 56% said they risk losing ground to competitors if they do not integrate AI or machine learning into their clearing operations.

How the Nasdaq Calypso Agentic AI Environment Will Work

Nasdaq Calypso is an advanced capital markets and treasury platform used by banks, brokers, asset managers, central banks, and other financial institutions to process front-to-back office trading, risk management, and collateral workflows. The operating environment will allow clients to access Nasdaq Calypso’s agents and connect their own proprietary AI infrastructure through an integrated layer built on the Model Context Protocol (MCP). MCP is an emerging industry standard for linking AI agents to software.

The environment applies robust operational boundaries, live oversight, and strict sandboxing with no external data retention, designed to keep AI agents operating solely within an institution’s perimeter and policies. It will enable agents to operate on core Nasdaq Calypso data, drawing on the platform’s system-of-record trading, risk, and collateral records, and can be extended with additional enterprise, market, and reference data sources.

The launch also aligns with the first agentic capabilities available in the environment: a natural language assistant that lets users query the platform’s data, documentation, and other information. The functionality seeks to deepen how teams can use the platform, enhance productivity around data analysis and document review, and accelerate decision-making.

Nasdaq plans to roll out a suite of governed agentic workers designed to address operational friction caused by manual processes that persist across capital market workflows.

Clients retain full control of their data. The agents will be hosted by Nasdaq and delivered through Nasdaq Calypso’s cloud environment, which is built on Amazon Bedrock to provide the scalable services and governance controls required to run agentic AI in regulated environments. On-premises clients will also be able to connect to those same agents.

Nasdaq will partner with individual clients as they work through internal AI governance and control requirements to bring these capabilities online. The launch builds on Nasdaq’s extensive AI capabilities within its suite of Financial Technology platforms, including Nasdaq Verafin’s Agentic AI workforce leveraged by 800+ clients, and AI-powered regulatory reporting in Nasdaq AxiomSL. As institutions increasingly adopt these technology platforms, the patterns learned are expected to help deliver even greater levels of performance and client outcomes.

Source: Nasdaq