< The 2016 Trading Technology 40
5
Bradley Peterson
Chief Information Officer
Nasdaq
Last year: 7
In December, Nasdaq pushed to the front of the race to commercialize the blockchain with the completion of a transaction using its Nasdaq Linq distributed ledger. The New York–based exchange operator deployed the technology — built in partnership with San Francisco–based Chain — on Nasdaq Private Market, which allows private companies to raise capital and manage secondary transactions. “The existing system was predominantly paper and spreadsheets,” says chief information officer Bradley Peterson. The lack of legacy software “allows us to iterate and move quickly, and we see a growing need in that area because of the number of high-quality companies that are remaining private, like Uber and Pinterest.” Nasdaq bolstered Private Market, launched in 2014, with the October acquisition of competitor SecondMarket Solutions. Looking beyond the first transaction, Peterson, 56, envisions blockchain as a boon for settling public market transactions. “Our systems have been optimized to be able to trade within microseconds, but then the full transfer of ownership can take three days,” says Peterson, who was CIO at Charles Schwab Corp. before moving into the Nasdaq job in 2013. “We think [settlement time] could be greatly reduced, which would free up a lot of capital in the system.” Currently planning a blockchain clearing-and-settlement initiative with one of its customers, Nasdaq also is experimenting with a proxy voting application in Estonia. Along more-conventional lines of expansion, Nasdaq in December acquired the Chi-X Canada alternative trading system from New York–based Chi-X Global and scored an extensive market technology deal with Borsa Istanbul that starts with equities and later will include other asset classes. “You can run multiple asset classes on many of our platforms,” Peterson notes. Cybersecurity continues to be a concern and “an area of increased investment,” the CIO adds. “I’m optimistic because a lot of companies are coming up with solutions that will give us much better protection against those trying to capitalize on today’s weaknesses.”
2016 Trading Technology 40
1. Raymond Tierney III 2. Richard Prager 3. Chris Isaacson 4. Jonathan Ross 5. Bradley Peterson |
6. Brad Levy 7. Dan Keegan 8. Ronald DePoalo 9. Raj Mahajan 10. Ari Studnitzer |
11. Mayur Kapani 12. Gerald O’Connell 13. Nicholas Themelis 14. Gil Mandelzis 15. Bill Chow and Richard Leung |
16. Rob Park 17. Philip Weisberg 18. John Mackay (Mack) Gill 19. Robert Cornish 20. Paul Hamill |
21. Eric Noll 22. Tyler Moeller and Joshua Walsky 23. Rishi Nangalia 24. Veronica Augustsson 25. Alasdair Haynes |
26. Manoj Narang 27. Gaurav Suri 28. Robert Sloan 29. Anton Katz and Stephen Mock 30. Stu Taylor |
31. D. Keith Ross Jr. 32. Donal Byrne 33. Alfred Eskandar 34. R. Cromwell Coulson 35. Masayuki Hosaka |
36. Peter Maragos and David Karat 37. Amar Kuchinad 38. Jennifer Nayar 39. Dave Snowdon 40. Dan Raju |
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