- Nasdaq has initiated a new service known as ‘Marketplace Services Platform.
- It gives users a complete experience of end to end service for any variety of Market ecosystems or any machine to machine transfers, including digital assets.
- It has the potential to span the transaction lifecycle and hence facilitates the smooth and effortless transfer of the assets, services, and so on.
Recently, Nasdaq has initiated a new service known as ‘Marketplace Services Platform. This entirely new platform formed on the top of Nasdaq’s Financial Framework. It gives users a complete experience of end to end service for any variety of Market ecosystems or any machine to machine transfers, including our conventional financial assets, digital assets, and much more. It has the potential to span the transaction lifecycle and hence facilitates the smooth and effortless transfer of the assets mentioned above, services, and so on.
A Brief Overview Of Nasdaq
For those who aren’t familiar with the stock market ecosystem, Nasdaq is an American Stock Exchange ranked second after the New York Stock Exchange. NASDAQ is short for the National Association of Securities Dealers Automated Quotations, which was established in 1971 by the Financial Industry Regulatory Authority formerly known as the National Association of Securities Dealers (NASD). All the previously introduced marketing services such as matching, risk management, and market surveillance will be available on the platform.
Digital Asset Suite To Sustain The Transaction Lifecycle Of Digital And Tokenized Assets
Besides, the platform contains a Digital Asset Suite, which is both sceptic to the distributed ledger technology and multi-cloud. The suite specifically meant to support the transaction lifecycle of the digital asset, cryptocurrency, and tokenized market by maximizing the advantages of the distributed ledger technology. Now, the assets issued by matching, ownership, delivery, and payment. Further, Nasdaq is partnering with Microsoft, and Azure’s marketplaces can have access to Digital Assets Suite. The collaboration with Microsoft aimed at finding solutions for similar next-generation marketplaces. Nasdaq had also collaborated with companies like Digital Asset, R3, and Symbiont. It is to meet the various requirements and unique models of the digital asset and Blockchain world.
THE PLATFORM CAN BE USED TO EXPAND BUSINESSES:
Magnus Haglind, SVP and Head of Product Management, Market Technology at Nasdaq said that as the markets are revolutionizing and we are slowly entering into the next stage if digitalization and people are demanding smooth and easier access to standard services and technologies. Thus, by introducing the Marketplace Services Platform, not only are they providing marketplaces in secure cloud environments but also a platform for the users to utilize and expand their respective businesses. He added that this has a big future and could potentially become one of the best cloud services in the global market.