Microsoft to integrate its Azure blockchain technology into stock exchange Nasdaq

01 Nov, 2018
by Joeri Cant
Microsoft to integrate its Azure blockchain technology into stock exchange Nasdaq

In a recent news report, released by Microsoft, it was announced that Microsoft will partner up with stock exchange Nasdaq, by integrating its Azure blockchain technology service into Nasdaq’s financial framework.

The re-designed Nasdaq financial framework was released in 2016, to better serve its global clientele and to also take advantage of the benefits of emerging technologies to enable key strategic advantages for customers.

Magnus Haglind, Senior Vice President and Head of Product Management for Nasdaq’s market technology business, said that the capital markets are evolving faster than ever with the 'advancement of cloud, blockchain, machine intelligence and others.'

'Key players in the industry are looking to these technologies to explore how they can become more effective and efficient, but also gain competitive advantage'. he said.

By integrating Microsoft Azure Blockchain into the Nasdaq financial framework, they will develop a 'ledger agnostic blockchain' capability that supports a multi-ledger strategy. Nasdaq is looking to manage the delivery, payment, and settlement of transactions on multiple blockchains, with different payment mechanisms.

Tom Fay, Senior Vice President of Enterprise Architecture at Nasdaq, believes that the combination of NFF and Microsoft’s blockchain technology 'can remove some of the project complexities that exist in this realm'.

'Additionally, as more industries move towards capital markets technology and structures, we see the potential for blockchain to provide value in secure, frictionless and instantaneous matching of buyers and sellers.', he continued.

'Delegating to Microsoft – as a best of breed enterprise-quality partner and leader in the blockchain space – to handle all of the semantics of ledger communication, security, deployment and orchestration, allows us to focus on customer challenges and solutions at scale, rather than expending resources on building components that fall outside our core business.'

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