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Nasdaq looks to grow into sell-side tech provider

Nasdaq is looking for a new client base – the sell side. Given its broad technology reach, the company believes it has the products and infrastructure that banks and brokers need in today’s regulatory and trading environment. Speaking to JLN at the FIA IDX event in London, Carl Slesser, head of product management, banks and brokers at Nasdaq, said such firms are more open to outsourcing or partnering with companies like Nasdaq.

“We’ve seen a change in the appetite in the sell-side community to use vendors and partners,” Slesser said. “We’re going to launch an initiative to focus on that sector and bring the Nasdaq technology we have, supported by a Nasdaq Financial Framework, into this sector.”

Nasdaq has two large banks signed on already and is looking to expand on that base. The Nasdaq Financial Framework, launched in 2016, is designed for exactly such clients in terms of services, cloud and hosting services with an open infrastructure.

Slesser said some examples of services include single-dealer platforms, more innovative trading models or performance upgrades.  

Produced by Mike Forrester

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Kharouf is a Chicago-based freelance reporter and editor who was previously CEO and editor-in-chief of John Lothian News.