Calypso integrated into Nasdaq’s infrastructure. Live trading never stopped.
Risk and compliance came out stronger.
Calypso’s trading and risk management software went live inside Nasdaq’s infrastructure, with compliance, data integrity and risk oversight maintained the entire way through — and AI-driven risk models added for the complexity still to come.
to live trading
infrastructure
for future markets
compliance standards
Client
The client is an international provider of trading and risk management solutions, integrating Calypso’s trading software into its own infrastructure.
Goal
Integrate Calypso’s trading software into Nasdaq’s infrastructure without a gap in risk management or regulatory compliance, while building a platform that could scale.
Risk management doesn’t get a pause button.
Calypso’s trading systems are complex, and Nasdaq’s infrastructure supports large-scale, live derivatives trading. Bringing the two together meant aligning risk and compliance frameworks across two organisations, without a gap in coverage and without touching ongoing trading activity.
The stakes went beyond uptime. Data integrity, accuracy and security had to hold across both companies throughout the transition, while regulatory compliance kept running under evolving global requirements.
Three constraints were non-negotiable:
- Complex trading systems, integrated without disrupting live operations.
- Risk management and compliance couldn’t pause for the transition.
- Data integrity and security had to hold across two organisations.
Compliance and risk expertise, built into every step of the integration.
Subject-matter expertise on risk management and regulatory compliance ran through the whole integration. Risk and compliance frameworks across both organisations were aligned to a consistent, global standard rather than bolted together after the fact.
Two trading infrastructures became one, and the trading floor never noticed.
The integration of Calypso’s trading systems into Nasdaq’s infrastructure was guided step by step to keep disruption to a minimum, with governance structures put in place to protect data integrity and operational continuity throughout.
AI-driven risk models were introduced to strengthen Nasdaq’s preparedness for future market complexity, with compliance and risk management practices embedded directly into the integrated platform rather than managed separately.
One platform, ready for derivatives trading at scale.
Two complex systems became one operational platform, without a gap in compliance or a hit to live trading. Nasdaq now runs Calypso’s technology as a single, unified trading and risk management framework, with governance and AI-driven risk models built in for whatever complexity comes next.
* Case studies reflect work undertaken by our Heads of AI either during their tenure with Head of AI or in prior roles before they were part of the Head of AI network; they are provided for illustrative purposes only and are based on conversations with our Heads of AI.
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*Case studies reflect work undertaken by our Heads of AI either during their tenure with Head of AI or in prior roles before they were part of the Head of AI network; they are provided for illustrative purposes only and are based on conversations with our Heads of AI.