The phased process will begin with Nasdaq MRX, a US options market, and the pair will develop infrastructure for other participants and operators to make the same migration.
New options align with Nasdaq’s objective to address the increasing demand for more sustainable investment solutions.
The US exchange has signed an agreement to deliver marketplace matching, clearing and settlement technology solutions to support the launch.
The exchange joins existing investors of the equity dark pool trading venue Bank of America, Citi, and Fidelity.
SVB, Citi, Goldman Sachs and Morgan Stanley have invested in the Nasdaq private market platform, which will become an independent entity.
Clients will be able to leverage applications in the multi-party application platform Daml and connect them to the Nasdaq platform under Digital Asset partnership.
Nasdaq and Tradeweb confirmed in February that they had entered into a definitive agreement for Tradeweb to purchase Nasdaq’s fixed income business.
New global head of exchange at CrossTower brings 25 years of industry experience and will be responsible for running global exchanges and product expansion.
Nasdaq plans to launch the volatility index options later this year, following the approval from the US financial regulator.
The Nasdaq Execution Platform will help deliver the soon-to-launch PureStream ATS after the start-up raised $14 million from Goldman Sachs and Bank of America.