Nasdaq partners with Baton on collateral workflows
13 March 2026 US
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Nasdaq Calypso has announced its partnership with Baton Systems to 鈥渢ransform鈥� collateral workflows and mobility across the global post-trade ecosystem.
Through this collaboration, Nasdaq Calypso will integrate with Baton to provide clients with advanced collateral workflow automation and fast, efficient asset mobilisation capabilities.
Baton is designed to normalise the proprietary data and interfaces used by central counterparties (CCPs) through a distributed ledger technology (DLT) platform that acts as an orchestration layer, integrating with existing systems.
This is designed to enable efficient posting and recall of collateral across CCPs.
The integration of Baton's real-time network with Nasdaq Calypso represents a significant advancement for clearing members and institutional clients worldwide 鈥� notes Magnus Haglind, head of Capital Markets Technology at Nasdaq 鈥� creating enhanced infrastructure for managing collateral workflows with 鈥渦nprecedented connectivity鈥�.
According to Haglind, the opportunity looks to unlock trapped capital, reduce operational risk, and accelerate settlement to improve market efficiency.
The partnership looks to address a 鈥渇undamental challenge鈥�: the need for always-on, real-time post-trade infrastructure that eliminates operational friction and optimises capital deployment.
Baton's direct connectivity between futures commission merchants (FCMs) and CCPs offers live information on eligibility, margin requirements and access to CCP data that was not available previously, says Nasdaq.
Haglind concludes: 鈥淲e're enabling CCPs and clearing members to have access to next-generation collateral management capabilities. The next generation of clearing infrastructure is being built today, architected for a world where real-time operations and capital efficiency are competitive necessities.鈥�
Through this collaboration, Nasdaq Calypso will integrate with Baton to provide clients with advanced collateral workflow automation and fast, efficient asset mobilisation capabilities.
Baton is designed to normalise the proprietary data and interfaces used by central counterparties (CCPs) through a distributed ledger technology (DLT) platform that acts as an orchestration layer, integrating with existing systems.
This is designed to enable efficient posting and recall of collateral across CCPs.
The integration of Baton's real-time network with Nasdaq Calypso represents a significant advancement for clearing members and institutional clients worldwide 鈥� notes Magnus Haglind, head of Capital Markets Technology at Nasdaq 鈥� creating enhanced infrastructure for managing collateral workflows with 鈥渦nprecedented connectivity鈥�.
According to Haglind, the opportunity looks to unlock trapped capital, reduce operational risk, and accelerate settlement to improve market efficiency.
The partnership looks to address a 鈥渇undamental challenge鈥�: the need for always-on, real-time post-trade infrastructure that eliminates operational friction and optimises capital deployment.
Baton's direct connectivity between futures commission merchants (FCMs) and CCPs offers live information on eligibility, margin requirements and access to CCP data that was not available previously, says Nasdaq.
Haglind concludes: 鈥淲e're enabling CCPs and clearing members to have access to next-generation collateral management capabilities. The next generation of clearing infrastructure is being built today, architected for a world where real-time operations and capital efficiency are competitive necessities.鈥�
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