Nasdaq Calypso: How to Choose the Right Managed Services Provider

Going digital as a financial services provider is no small task — and digital maintenance is even harder. In today’s rapidly evolving landscape of finance and technology, working with trusted providers of platform solutions has become a vital component of success.

One such platform used by thousands of financial service providers and institutions is Nasdaq Calypso, a fintech platform tailored for capital markets and regulatory compliance. With front-to-back solutions that operate in real-time and can meet the needs of many different types of financial organizations, Calypso has become a leading solution within the financial services industry.

Yet, implementing the Nasdaq Calypso platform is only one part of a much larger task.

To make the most out of Calypso, your organization or institution needs a reliable IT managed services provider to help you oversee and optimize the platform. From ensuring your configurations are customized to your needs to keeping the platform updated and running smoothly, the right managed services provider can be the key to achieving a competitive edge in today’s markets.

How do you go about finding the ideal Nasdaq Calypso IT managed services provider for your business?

Read on to find out.

What Role Does Nasdaq Calypso Play in Financial Institutions?

Nasdaq is a U.S.-based software provider that offers specialized solutions for financial services. One of the company’s most popular products is Nasdaq Calypso, an integrated and comprehensive platform designed to offer solutions for capital markets and financial risk reporting.

The Calypso platform is a leading solution for many types of financial service providers, including:

As an end-to-end solution for trading, treasury, risk management and regulatory compliance, it’s safe to say that Nasdaq Calypso is highly impactful within the broad scope of the financial services industry.

Today, Nasdaq Calypso is trusted by more than 60,000 users, including six of the top 10 asset managers and roughly $25 trillion of assets under the platform’s management.

Ultimately, the Calypso platform empowers financial institutions to navigate the intricate world of trading, risk management, and compliance with confident precision. The platform helps to simplify complex processes, risk assessments, and trend analyses, as well as facilitate informed decision-making.

3 Red Flags to Look Out For in Nasdaq Calypso Managed Services Providers

Embarking on a hunt for the best Nasdaq Calypso managed service provider can seem daunting if you do not know what or who you should be looking for.

For your organizational experience with Calypso to be as optimized and successful as possible, it is essential to take your time researching different providers and selecting the one that best fits your needs. This requires comparing your options and often talking with sales teams to uncover greater detail about the exact use cases for Calypso in your specific business scenario.

With this in mind, let’s look at three red flags to look out for in platform IT managed service providers:

1. A Lack of Specialized Expertise

If you own an expensive luxury vehicle, would you rather take it to a general mechanic or one specializing in the maintenance and care of your car’s brand? The obvious choice is the specialized provider — they can ensure your investment maintains both its value and functionality.

Now, ask yourself the same question about your platform services provider. Do you want a provider with generic knowledge about all fintech platforms, or a provider specializing in the implementation and management of the exact platform you are using?

Nasdaq Calypso is a powerful and intricate platform that requires specialized expertise to manage effectively. Even more importantly, your business has its own unique use cases and business scenarios that the platform needs to be tailored to, requiring a high level of expertise with the platform and its various customization options.

If a platform managed services provider does not offer specialized expertise for Nasdaq Calypso — or only provide vague, likely misleading information about their Calypso services — it is a major red flag to avoid.

Instead, look for an experienced team that can answer all of your questions about Calypso in depth and with expert knowledge you can rely on. A platform managed services team that is well-versed in Nasdaq Calypso should be able to easily explain and discuss the platform’s various functions, integration capabilities, applications, and overall best practices.

2. Limited Scalability and Flexibility

One of the best things about Nasdaq Calypso is its ability to suit organizations of widely varying sizes — so long as those organizations understand how to enable flexibility at scale.

As your financial organization or institution grows, you will need to adapt to changes in the markets and fluctuations in the size of your customer base.

The Calypso IT managed services provider you choose must have the capabilities to accommodate your organization’s changing requirements in real time and with an exceptional level of efficiency. Nasdaq Calypso leverages cloud technology to achieve a highly adaptable and scalable solution. With the right platform partner, your organization can utilize this technology to respond to changing markets swiftly.

However, without these kinds of accommodations, you may find your organization constrained by a rigid approach to managing the Calypso platform.

A good method for determining the scalability and flexibility of an IT managed services provider is to look at what types of clients they already service. If the provider works with many clients across a broad range of use cases, they likely have the tools, resources, and expertise necessary to enable full scalability.

3. Inadequate Support and Response Times

At the end of the day, you need an IT managed services provider you can rely on at all times.

The financial industry can be especially time-sensitive, especially when it comes to activities like trading and risk management. Your Calypso managed services provider should have round-the-clock support available to you, with teams working within your region to ensure all aspects of your platform are operating within the proper timeframes.

Any disruptions or issues with Nasdaq Calypso can have far-reaching consequences.

As such, inadequate support and slow response times from a managed services provider are major red flags. If you encounter difficulties or require assistance with the platform, delayed response times could lead to extended downtimes, financial losses, and damage to your reputation.

Calypso technology demands seamless support that addresses issues promptly and ensures your organization’s operations remain uninterrupted.

Why Do You Need an Nasdaq Calypso Managed Services Provider?

The decision to manage Nasdaq Calypso in-house or through a managed services provider is a critical one that directly impacts your institution’s operational efficiency, risk management, and growth potential.

Knowing the red flags to watch out for makes it all the more important to find out which providers you can trust. With the right provider, you can not only optimize your organization’s use of Nasdaq Calypso but also move with confidence thanks to seamless and comprehensive technical support.

While the allure of internal management might seem tempting, the red flags discussed in this article shed light on the potential pitfalls of relying on a team lacking specialized expertise with the platform.

Expert solutions tailored to your organization’s exact needs by an IT managed services provider ensure you have the knowledge, scalability, adaptability, and support necessary to alleviate any and all pain points you encounter along the way — and better position your organization as a top competitor.

By embracing the benefits of a technology partnership, financial institutions can harness the full power of Nasdaq Calypso to optimize their operations in the ever-evolving landscape of the financial industry.

Exadel Helps You Manage Nasdaq Calypso with Confidence

At Exadel, our teams are experts at Nasdaq Calypso deployments and platform management.

We provide the technology, support, and expertise your organization needs to thrive in today’s digital realm of finance. Exadel offers a broad range of services to achieve end-to-end solutions, including:

• Strategy & Technology Consulting
• AI & Data Management
• Digital Experience Development
• Digital Product & Platform Management
• IT Managed Services

Get in touch with Exadel today to learn how our teams can help you optimize your Calypso platform.