The Nasdaq Stock Market
SIZE OF FIRM:
WHAT WORK EXPERIENCE HAD THE MOST LASTING IMPRESSION ON YOUR CAREER?
LAST GOOD BOOK READ:
The trend in the exchange industry is globalization and consolidation. That is the next big trend that has significant technology issues. How do you integrate the market models, the global distribution networks, manage the different regulatory climates, etc., and really change the business model of what an exchange does?
Key Technology Management:N/A
Size of Technology Team:N/A
Percent of IT Projects Outsourced:Very minimal.
Key Technology Partners:N/A
Success Metrics:Our metrics are pretty basic and very measurable. We look at the availability and reliability of our platforms. We are also big proponents of customer feedback. We have proactive communications out to our customer base. They count the most. For delivery projects, we look at budgets and time to market and satisfaction within our lines of business. Our projects have to be cost-efficient and timely.
2008 INITIATIVESBoosting Speed and Volume
We have seen explosive growth in black-box and algorithmic trading. Handling the volumes and latency demands for our customers will continue to drive all of our initiatives. We process more than 430 billion transactions per day, hitting peaks of 125,000 transactions per second. We are more prepared today to deal with a truly stressed marketplace. Our capacity and throughput has increased more than 100 percent. We have been able to manage that growth very successfully.
Coping With Globalization
Last May Nasdaq and Swedish stock exchange OMX announced plans to combine as the Nasdaq OMX Group. We expect the deal to close in late 2007.
TOP 3 CURRENT PROJECTS
Launch of Nasdaq Options MarketWe will leverage our equities platform to trade both equities and options. Our platform provides a level playing field for all participants. We are targeting the fourth quarter for launch.
Launch of Web-Based Portal MarketThe portal will give qualified institutional buyers (QIBs) cost-effective access to U.S. capital markets secondary to trading of 144A securities. These securities are not subject to the same regulations as our 1934 Exchange Act registered securities, so they are not under [Sarbanes-Oxley]. We believe this will transform the way capital is raised for both U.S. and non-U.S. companies. We are targeting the third quarter for launch.
Developing New Market Data ProductsWe have been very proactive in developing new market data products. We have won some awards there. We are leveraging our market data distribution network to meet the demands of what is now an increasingly successful investor base. Our flagship product is Total View. This gives the most complete view of Nasdaq data. We also have Nasdaq Market Velocity, which alerts traders to events before they occur.