Nasdaq Reaches ‘New Base Camp’ with Eqlipse

Nasdaq has launched Eqlipse, the fourth generation of its marketplace technology platform, which Magnus Haglind, head of capital market technology, said provides a number of transformative capabilities. The Nasdaq Financial Framework was the underlying programme that Nasdaq developed to modernise and build shared technology. Before the Nasdaq Financial Framework was introduced in 2018 the group offered multiple matching engines, clearing and central securities depository (CSD) solutions. Haglind said: “We have completed this generation of platform modernization and have a number of transformative capabilities in our solutions such as running 24/7 or on cloud.” He was recently promoted to head of capital market technology after previously working in the business targeting financial market infrastructure solutions. Haglind now has a broader remit including global connectivity services, market technology and Calypso’s front-to-back trade management solutions. Calypso was acquired by Nasdaq in 2023 when the group completed its $10.5bn acquisition of Adenza, a company formed by the merger of Calypso Technology and AxiomSL, which focuses on regulatory reporting. Nasdaq Eqlipse includes trading solutions across asset classes, a clearing and risk platform for clearinghouses, and a CSD platform for depositories with high-performing settlement infrastructure. As a result, Nasdaq captures the whole value chain from issuance through price discovery and execution into clearing, risk management, settlement and depositories across asset classes and can also provide a broad array of capabilities such as data management capabilities and managed services. Eqlipse is also introducing an “evergreen” system for quarterly upgrades, allowing clients to keep their solutions up-to-date rather than waiting for major updates every few years.