Nasdaq and Talos are linking their platforms to support the use of tokenised collateral in institutional markets, according to a Nasdaq press release.
The integration connects Talos’ digital asset infrastructure with Nasdaq’s Calypso platform, used for managing risk, margin and collateral, and its Trade Surveillance system. The move focuses on one of the main obstacles to adoption: the difficulty of incorporating digital assets into existing post-trade and risk processes, says Nasdaq.
Combining collateral
The setup is designed to allow firms to handle both traditional and blockchain-based collateral within the same operational framework. This includes connecting workflows across execution, collateral management and risk monitoring.
Nasdaq data referenced in the announcement indicates that around 25 per cent of collateral is currently held in non-interest-bearing or corrective measures, amounting to more than US$35 billion.
Surveillance tools
As part of the integration, users of the Talos platform will gain access to Nasdaq’s Trade Surveillance tools. These are used to monitor trading activity and detect potential market abuse.
The system covers patterns such as spoofing, layering, wash trading and cross-market manipulation, and applies the same surveillance approach used in traditional markets to digital asset activity.
According to the companies, the aim is to bring digital asset workflows closer to established standards for risk management and market oversight as institutional participation increases.
