# Nasdaq Calypso Technology

> Nasdaq Calypso supplies institutional software for trading, treasury, risk, collateral, clearing and post-trade operations. Founded as Calypso Technology in 1997, it became part of Adenza and then Nasdaq; customers can run the platform on their own infrastructure or use managed cloud services.

- **Founded:** 1997
- **Headquarters:** San Francisco, United States
- **Founders:** Charles Marston (Co-founder; former chairman and CEO), Kishore Bopardikar (Co-founder; former president and co-CEO)
- **Products:** Nasdaq Calypso, Middle Office & Trading Risk, Treasury, Collateral, Margin & Securities Finance, Clearing
- **Notable:** Reported current footprint of 270+ clients, 60,000+ users and 70+ countries., 24 central-bank clients at the end of 2025, according to Nasdaq results., Calypso-based MAPS celebrated ten years of operations in September 2026.

## Products & services

- **Nasdaq Calypso** — Modular cross-asset institutional platform spanning trading through post-trade operations.
- **Middle Office & Trading Risk** — Pre-deal limits, intraday exposures, stress testing, P&L and counterparty risk analytics.
- **Treasury** — Funding, liquidity and assets-and-liabilities workflows across banking and trading activities.
- **Collateral, Margin & Securities Finance** — Margin calculation, collateral management and securities-finance workflows.
- **Clearing** — Processing and risk management for cleared OTC and exchange-traded derivatives.
- **Post-Trade Processing** — Confirmation, matching, settlement and accounting workflows with ecosystem connectivity.
- **XVA Accelerator** — Risk-computation acceleration using Chebyshev tensors and MoCaX modelling expertise; Nasdaq claims up to 100 times faster processing for the most complex products.
- **Calypso managed service on AWS** — Nasdaq manages underlying technology on AWS infrastructure.
- **Calypso Intelligence** — Managed data extension using Apache Iceberg, normalized models, lineage and access controls.
- **Agentic AI environment and natural language assistant** — Governed AI environment with MCP connectivity; first available capability is querying data and documentation. Additional agentic workers are planned.
- **Calypso Learning Services** — Role and domain training, core courses and how-to content.

## Achievements

- Reported current footprint of 270+ clients, 60,000+ users and 70+ countries.
- 24 central-bank clients at the end of 2025, according to Nasdaq results.
- Calypso-based MAPS celebrated ten years of operations in September 2026.
- HSBC expanded Calypso to exchange-traded derivatives clearing in September 2026.

## Latest updates

- **2026-09** — September 29: launched governed agentic AI environment and natural language assistant; additional agentic workers remain planned.
- **2026-09** — September 28: HSBC adopted enhanced ETD clearing platform; US Treasury cash expansion was planned for year-end.
- **2026-09** — September 21: MAPS marked ten years of operations, serving seven central banks.
- **2026-07** — Second-quarter earnings presentation reported expansion beyond 70 countries and a Georgian Financial Markets Treasury Association deal.
- **2025-09** — Announced fully managed Calypso deployment option on AWS.

## Links

- Website: https://www.nasdaq.com/products/fintech/calypso
- LinkedIn: https://www.linkedin.com/company/calypso-technology
- Twitter/X: https://twitter.com/CalypsoTech
- Facebook: https://facebook.com/Calypso-Technology-438273626350351/

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Last updated: 2026-09-30