Nasdaq has launched the Nasdaq Financial Framework which has opened its blockchain services to over hundreds of market operator clients across the globe. Nasdaq financial framework is a harmonized approach to delivering robust end-to-end market tech solutions.
This financial framework is available for traditional exchanges, inter-broker dealers and alternative trading venues, clearing houses and central securities depositories (CSDs). In a range of unnamed services, this infrastructure would open doors for exchanges and others to start using blockchain technology.
Talking about the collaboration with clients, vice president and Nasdaq’s head of market technology Lars Ottersgård said in a statement that, “We have closely collaborated with our clients – including Nasdaq’s technology leaders who oversee our markets – to understand and anticipate what the future will require of market operators and how they can address both business challenges and opportunities ahead."
Nasdaq Financial Framework is comprised of three components which are the Nasdaq Core, Nasdaq Core Services and Nasdaq Business Application. The website stated that, Nasdaq Core is an open, deterministic, high-speed communication, operations and resiliency layer. Nasdaq Core Services empowers Nasdaq business applications with additional capabilities beyond the direct connection to the Core for operations, messaging, and other core framework services. Thirdly, Nasdaq Business Application is an end-to-end portfolio of business functionality supporting the full trade lifecycle.
Nasdaq's president and chief operating officer Adena Friedman said that, “It creates a common way to have them [all the various Nasdaq systems] connect and work together." She also said that the ‘huge reason’ behind the move is the ability to incorporate new technologies, including the blockchain.
Since the company’s announcement of launch, exchanges around the world have followed suit. Last December, Nasdaq issued its first investor shares on the platform and earlier this year, the company made announcement that it is developing an electronic shareholder voting system based on blockchain technology for Estonian Stock Market.
