Nasdaq to Deliver Matching Engine Technology to the Football Index
STOCKHOLM, Sweden and LONDON, July 23, 2019 (GLOBE NEWSWIRE) -- Nasdaq Inc. (Nasdaq:NDAQ) announced today it has signed a new agreement with Football Index, where clients can buy and sell shares in professional footballers, and will provide the company with a flexible, cloud-optimized trading engine that offers rich functionality.
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As part of the Nasdaq Financial Framework offering, Football Index will join a growing list of new markets outside of financial services that are relying on Nasdaq’s marketplace technology to accelerate their business growth and enhance the client experience.
“The concept of what a market is has radically evolved over the past few years, something that Nasdaq as an operator and builder of markets has played an important part of first-hand,” said Paul McKeown, Senior Vice President and Head of Marketplace Operators and New Markets, Market Technology, Nasdaq. “We are focused on democratizing marketplace technology by offering essential components of matching engine technology traditionally used by financial markets, and bringing the capabilities to a cross-asset, cross-industry environment via the cloud. Football Index will use our matching engine technology to provide their clients with a platform to revolutionize how fixed-odds betting operates.”
“Nasdaq is a legendary brand,” said Adam Cole, Founder and CEO, Football Index. “We're very proud and excited to work with them to provide our order matching service, which is the powerhouse of any exchange. Football Index has come a very long way in a short period of time. Our relationship with Nasdaq is another major step in our journey to establish Football Index as a world-class exchange, worthy of the world's top footballers that are traded on it.”
Through the agreement, the Football Index joins a global community of marketplace operators that have access to a range of services through the Nasdaq Financial Framework including:
Comprehensive coverage of trading requirements
Coverage of trading in almost any asset class globally, from tokens on real estate to cryptocurrencies to contracts in a variety of industries
Real-time creation of new instruments and models as strategy evolves
24x7x365 trading support
Complete functionality for market control, administration and supervision
Support for a broad array of protocols and interfaces
Reliable, proven, and high performance technology
Proven infrastructure with industry-leading throughput and performance to keep customers successful and operational, even under intense market conditions
Dynamic scaling for changes in number of users and order sizes
Flexibility to integrate third-party or proprietary solutions across transaction lifecycle to help preserve a company’s current environment and future-proof system configuration
Reduced operational complexity
Software as a Service (SaaS) deployment enables faster time-to-market for an entire implementation, while Nasdaq’s managed services model decreases a company’s infrastructure burden by reducing the need to employ large technology teams to manage the solution.
Flexible, modular solution built for change, which easily scales to support higher volumes and expansion into new asset classes
Nasdaq's market technology powers more than 250 of the world's market infrastructure organizations and market participants, including broker-dealers, exchanges, clearinghouses, central securities depositories and regulators, in over 50 countries with end-to-end, mission-critical technology solutions.
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $15 trillion. To learn more, visit: http://business.nasdaq.com.
About Football Index
In 2015, BetIndex Ltd launched the world's first football stock market, Football Index, where traders can buy and sell shares in professional footballers with real money. The UK licensed gambling platform provides customers with an exciting alternative to the traditional sports betting markets. The first of its kind, Football Index is revolutionary in offering customers a chance to bet on the future success of football players, rather than gambling on the short-lived outcome of football matches. The platform operates with all the characteristics of a stock market, with traders buying units of footballers (known as 'shares'), building their football portfolios and trying to sell at a profit. Traders win dividends on each share they own in players who are performing well on the pitch or trending in the media, with prices based purely on supply and demand.
