Nasdaq, the global exchange and technology provider, has introduced an agentic AI framework within its Nasdaq Calypso platform, giving financial institutions a controlled space to deploy and expand AI agents throughout the trade lifecycle.
The new framework is designed to tackle obstacles that have held back large-scale institutional use of AI in capital markets and treasury operations. It creates a governed operating environment where clients can use agents supplied by Nasdaq Calypso and plug in their own in-house AI systems. Connections run through an integrated layer based on the Model Context Protocol (MCP), a developing industry standard for connecting AI agents with software.
The first capability available in the environment is a natural language assistant. Users can ask it questions about the platform’s data, documentation and other information, with the aim of making teams more productive in data analysis and document review and helping them reach decisions faster.
Safeguards include firm operational limits, real-time monitoring and tight sandboxing, with no data kept externally, so that agents stay within each institution’s own boundaries and rules. Agents can work with Calypso’s core trading, risk and collateral records, and firms can add further enterprise, market and reference data sources.
Nasdaq Calypso is a capital markets and treasury platform that banks, brokers, asset managers, central banks and other institutions use to handle front-to-back office trading, risk management and collateral processes.
Nasdaq intends to introduce a range of governed agentic workers aimed at reducing friction from manual tasks that remain common in capital markets workflows. Clients will keep complete control over their data. Nasdaq will host the agents and deliver them through Calypso’s cloud environment, which runs on Amazon Bedrock to supply the scalability and governance needed in regulated settings. Clients running the platform on-premises will also be able to access the same agents.
Nasdaq will work with each client on its internal AI governance and control needs before switching on these features. The launch extends the group’s existing AI work across its FinTech platforms, including the agentic AI workforce in Nasdaq Verafin, used by more than 800 clients, and AI-driven regulatory reporting in Nasdaq AxiomSL. The company expects lessons from wider adoption to improve performance and client outcomes further.
Nasdaq head of capital markets technology Magnus Haglind said, “For institutions to adopt AI agents at scale, they need a trusted, governed infrastructure inside the capital market platforms they already run, a place to connect agents from many different sources to real workflows, data, and controls.
“By integrating agentic capabilities and serving as the orchestration layer, we are evolving Nasdaq Calypso from a system of record into an intelligent platform that automates activity at every stage of the trade lifecycle.”
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