Nasdaq Launches The Marketplace Services Platform06.25.2020
SaaS platform purpose-built to operate marketplaces, everywhere
Platform also offering the Digital Assets Suite to support the transaction lifecycle of digital assets and tokenized markets
Nasdaq has announced 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, including, but not limited, to standard financial assets, tokenized assets, credit card receivables, loyalty points, real estate, insurance contracts, gaming and wagering and more. The already established universal marketplace services, which includes matching, risk management and market surveillance, will be accessible on the platform.
(Thread): Today, @NasdaqTech reveals the new Marketplace Services Platform, providing next-generation marketplace capabilities spanning the transaction lifecycle.
— Nasdaq (@Nasdaq) June 24, 2020
“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, 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, 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.”
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 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. 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.
The benefits of the Marketplace Services Platform include:
One service-based platform
- Covers the transaction lifecycle from end-to-end, featuring an easy-to-activate, modular structure with built-in interoperability enables marketplaces to start with one service area and easily turn on other functionality or additional services as their needs change
- Easily integrates with ISVs, partners and participants to manage the full range of requirements for the marketplace (i.e. integrate payment system)
Purpose-built, SaaS platform
- Built by market operators for marketplace operators everywhere
- Understands the complex workflows happening across the trade lifecycle, various market models and asset classes, roles of the key participants and the data that flows between them
- Designed with a multi-cloud strategy in mind, the platform is available in a variety of cloud environments allowing us to service the unique needs, strengths and diverse geographies across the Nasdaq Market Technology community
Reduce operational complexity
- Reduces the cost and complexity of creating a marketplace by reducing the number of vendors, technology resources and physical infrastructure required to get up and running
- Accesses a range of services via robust API portfolio across the transaction lifecycle
- Eases the technical burden on operations resources, simplifying IT management and decreasing capital expenditures due to SaaS delivery model
Frictionless on-boarding and maintenance
- Decreases time to market compared to on-prem delivery cycles, provisioning market infrastructure in weeks to months, versus much longer time horizons
- Continuously enhances performance and functional depth through frequent release cycles, absent continuous patch cycles to manage
Proven security protocols
- 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
- Mutualizes investment in information security, meaning that you benefit from the knowledge and experience across platform participants to continually improve and enhance protections
- Adds protection through the cloud providers’ continuous enhancement against known vulnerabilities in a number of industries
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Bertrand was most recently Head of Derivatives and Commodities at Borsa Italiana.
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With Natacha Dezert and Aman Mehta of BNP Paribas Securities Services.