Nasdaq Bows Index Platform for Other Exchanges
The standalone service will allow third-party marketplaces to create and manage their own indexes.
As well as performing calculation and administration functions, the platform also includes a historical database for reporting, restatements and back-testing, and a suite of index reports, including predictive reporting to calculate adjusted index values ahead of an actual recalculation.
Officials say the platform will allow marketplaces to "create unique products while maintaining operational control and controlling IP ownership" over their indexes.
"By generating their own indexes and working with partners to create investible products based on their indexes, marketplaces can better differentiate their brands and generate new sources of revenue for the exchange," says Lars Ottersgard, executive vice president of Market Technology at Nasdaq, in a statement. "As an owner and operator of some of the world's most renowned indexes... we see this new technology giving other exchanges an opportunity to not only increase the profile of their respective market segments, but also add to the value of their existing market data business."
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