Modernizing Markets in the Cloud

The blueprint empowers market operators to execute their modernization strategies, optimizing their resource investments while focusing on operational excellence, enhancing competitive differentiation, satisfying their regulatory obligations, and driving innovation within their markets.

Foundational Data & Systems

Pre-2020

• Gradually and systematically moved our systems to the cloud in a safe, reliable and controlled way
• From T+1 to real-time
• Critical RegSCI systems preparing to move trade engine
• Enterprise services/functions: Encryption, Key management

Testing Our Strategy

2020-2021

• Drastic increases in volumes provided confidence and conviction to pursue our cloud journey at an accelerated pace
• 60B messages through market systems; 200B+ records into Nasdaq Data Warehouse
• Cloud enabled us to provision additional capacity at a critical time without impacting other workloads critical to our day-to-day operations

Building the Next Generation

2022-2024

• First global exchange operator to take a major regulated market to cloud technology - Nasdaq’s MRX Options Exchange and Nasdaq Bond Exchange (NBE) moved to AWS in 2022

• In 2023 GEMX becomes 2nd U.S. Options Exchange to move to AWS

• Cloud technology enabled Nasdaq to process four times as much message traffic as five years ago

• Launched first SEC approved exchange order type powered by AI called Dynamic MEL-O

Transforming the Capital Markets of Tomorrow

2025 & Beyond

• Launched an industry modernization blueprint for critical capital market infrastructure

• Johannesburg Stock Exchange (JSE), Mexico’s Grupo BMV and Nasdaq’s Nordic markets will be the first markets globally to modernize their infrastructure and operating model in line with the blueprint

Over the past decade, we have been systematically moving elements of the Nasdaq portfolio into the cloud. As we look to redefine the capital markets of the future and tackle transformation of our critical infrastructure for the decades ahead, we are committed to creating an interconnected gateway in the cloud.

Over a decade ago, we embarked on our journey to the cloud, starting with foundational data storage, T+1 reporting, and billing workloads. Since then, we’ve systematically moved closer to the matching engine and moved ultra-low latency trading to the cloud.

Client-Centric Approach

Our approach to the cloud aims to democratize access, providing our clients across the globe with greater agility and the opportunity to get to market with initiatives quicker and with less complexity.

Cloud-First Development

We believe in the benefits that cloud computing will bring to the capital markets and are committed to leading development efforts in the cloud, balanced by regulatory, data governance and client requirements.

Markets Transformation

As a primary driver of capital markets technology evolution, we are focused on fueling collaboration and innovation in the cloud to power and transform the next 50 years of our industry.

Nasdaq and AWS to Unlock a New Era of Growth for Global Capital Markets

When it comes to capital markets, there is no doubt that we are a cloud evangelist at Nasdaq. Learn more about how we are building the next generation of cloud-enabled infrastructure for the world’s capital markets with Amazon Web Services (AWS).

2024 Outlook

Cloud-Enabled Data Management as the Gateway to FMI Innovation Technology modernization has become a familiar theme for financial markets as trading and data volumes rapidly grow. At the same time, industry adoption of transformative technologies like cloud and AI is maturing, which in turn accelerates client expectations for connectivity, transaction speed and enhanced services.

• Download the whitepaper Open

  Whitepaper

  Close modal

  2024 Outlook: State of Cloud Adoption at FMIs

  Based on lived experience in migrating three markets to the Cloud and on insights and observations gathered from delivering mission-critical market infrastructure solutions worldwide, Nasdaq has compiled a new viewpoint paper aimed at providing the 2024 Outlook for Cloud in Market Infrastructure.

Planning for Cloud

As market infrastructures advance their cloud strategies and relationships with cloud service providers (CSPs), it’s vital they bring regulatory stakeholders in early and often. This overview, informed in part by Nasdaq’s experiences, looks at the key areas for FMIs to engage with regulators and vendors on —from security and resilience to risk management and architecture.

• Download the whitepaper Open

  Whitepaper

  Close modal

  Planning for Cloud: Regulatory Considerations for FMIs

  Download Planning for Cloud: Regulatory Considerations for FMIs to get market insights.

FMIs and Cloud

Technology continues to pace the evolution of markets. But for financial market infrastructures (FMIs), cloud transformation can be challenging to assess using a traditional total-cost-of-ownership (TCO) framework. In a paper from Celent, commissioned by Nasdaq, a rethought TCO equation is argued for that captures the holistic costs of FMIs "standing still."

• Download the report Open

  Report

  Close modal

  FMIs and Cloud: Building the Business Case

  As cloud adoption accelerates, FMIs need to assess the cost of standing still. In a new report, Celent presents an updated TCO formula to assess the cloud business case.

Future-Ready Markets

Technology modernization has become a familiar theme for financial markets as trading and
data volumes rapidly grow. At the same time, industry adoption of transformative technologies like cloud and AI is maturing, which in turn accelerates client expectations for connectivity, transaction speed and enhanced services.

• Download the whitepaper Open

  Whitepaper

  Close modal

  Future-Ready Markets: Turning Data Challenges into Opportunities

  Complete the form to get your copy of the Future-Ready Markets: Turning Data Challenges into Opportunities whitepaper.

We are driving markets forward by embracing the cloud to unlock greater business insights, accelerate innovation and optimize operational excellence for the evolution of our participants, the greater capital markets and beyond.

Fuel Innovation

Enhance Resiliency

Next-Generation Markets

Gain Unfettered Access

Unlock Intelligence

Drive Digital Transformation

Please reach out directly to your Nasdaq contact or let us know how we can help.

Forward-Looking Statements. This communication contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to the formation of a partnership between Nasdaq and AWS and the benefits of the partnership, and statements about Nasdaq and its plans, objectives, expectations, intentions, products and offerings. When used in this communication, words such as "intends", "plans", "will", "believes", "expected", "projected" and similar expressions and any other statements that are not historical facts are intended to identify forward-looking statements. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the control of Nasdaq. These factors include, but are not limited to, factors detailed in Nasdaq’s annual report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. The forward-looking statements included in this communication are made only as of the date hereof. Nasdaq disclaims any obligation to update these forward-looking statements, except as required by law.