Nasdaq has entered a partnership with the National Bank of Georgia (NBG), in an effort the modernise both treasury and financial markets infrastructure within Georgia’s banking sector.
Magnus Haglind
As part of the offering, the Bank of Georgia, TBC Bank, Liberty Bank, Terabank and Basisbank – five of Georgia’s biggest banks – will integrate Nasdaq’s Calypso platform across the full front-to-back trade lifecycle under a shared infrastructure model.
The move is set to address the growing demand for more sophisticated treasury infrastructure across Georgian markets, helping to better support complex securities and derivatives markets, enterprise-grade risk management and regulatory standards.
Specifically, the Calypso platform will be installed at a centralised location, where each of the five participating banks will be represented as a separate entity under the shared infrastructure model, with each bank’s data remaining fully segregated.
Through this, configurations can be adapted to each bank’s individual business requirements, risk profile and operational context, while maintaining standardised reporting and workflows, shared market data and collective governance through the common framework.
The initiative will also operate under the Georgian Market Advancement Program (GMAP), in collaboration with Georgian Financial Markets Treasuries’ Association (GFMTA).
Magnus Haglind, head of capital markets technology at Nasdaq, said: “Georgia presents a compelling example of how the shared infrastructure model can unlock real value for individual institutions and the financial system as a whole.
“By drawing on Nasdaq’s experience navigating modernisation programs at scale, firms gain access to deep institutional knowledge and the ability to evolve without bearing the full cost, risk, or operational complexity of doing it alone.”
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Moreover, by delivered harmonised data and reporting across all five banks, visibility into treasury exposures, liquidity positions and systemic risk is set to be boosted.
Similarly, consistent audit trails and common reporting frameworks will allow Georgia to integrate with international financial standards.
Natia Turnava, governor of NBG, said: “Modernising Georgia’s treasury infrastructure is a strategic priority for the National Bank of Georgia and a critical step in the continued development of our financial system.
“By bringing the country’s five largest commercial banks onto a common, internationally recognised platform, we are raising the standard of risk management, regulatory oversight, and operational resilience across the sector.”