Nasdaq Ventures Backs One Trading to Revolutionize 24/7 Derivatives Markets

Nasdaq Ventures has made a strategic investment in One Trading, an Amsterdam-based regulated derivatives venue. This partnership signals a significant shift toward 24/7 deterministic trading and continuous settlement in European markets. For fintech professionals, it highlights the growing institutional appetite for merging digital asset speed with traditional regulatory safeguards to optimize capital efficiency.

What was announced

Nasdaq Ventures has completed a strategic investment in One Trading, a European regulated derivatives trading venue headquartered in Amsterdam. The move establishes a foundation for the two entities to collaborate on modernizing derivatives market infrastructure. One Trading operates a unified deterministic trading, risk, and settlement platform designed to facilitate cross-collateral netting and continuous settlement at scale. By utilizing auto-liquidations, the platform aims to reduce locked margin and remove the requirement for a mutualized default fund, a significant departure from traditional clearing models.

The technology brings 24/7 trading capabilities—typically associated with digital asset markets—into a regulated European framework. Beyond the capital injection, the companies intend to evaluate the expansion of product suites, specifically focusing on long-dated futures. This collaboration combines Nasdaq’s established global distribution and market infrastructure expertise with One Trading’s cloud-deployed, low-latency trading and risk engine. The partnership seeks to address the liquidity and capital needs of market participants by creating more responsive and resilient infrastructure that operates without the downtime common in legacy financial markets. The investment reflects a broader focus by Nasdaq Ventures on technologies that support the continued modernization of global capital markets through integrated trading and risk management solutions.

"Nasdaq Ventures shares our belief that markets must continue to evolve to better support clients’ liquidity and capital needs. We believe the future of derivatives markets will be shaped by advances in technology, risk management and market infrastructure that make markets more efficient, responsive and resilient. Together, we see an opportunity to explore new approaches to derivatives innovation and help define the next generation of market infrastructure."

Joshua Barraclough, Founder & CEO at One Trading.

The companies involved

One Trading is an Amsterdam-based trading venue that focuses on building next-generation technology for continuously operating markets. As a regulated entity within the European Union, it distinguishes itself by integrating trading, risk management, and settlement into a single, cloud-native architecture. The firm is led by Founder & CEO Joshua Barraclough and positions itself as a bridge between the high-availability nature of digital assets and the rigorous oversight of traditional finance. Nasdaq is a global technology company serving the capital markets and other industries. Its investment arm, Nasdaq Ventures, focuses on disruptive technologies that modernize market infrastructure and expand transparency. Nasdaq has a significant footprint in the fintech sector, with its technology powering numerous exchanges and financial institutions worldwide. The involvement of Nasdaq Ventures, led by Senior Vice President - Head of Nasdaq Ventures Gary Offner, underscores the exchange's interest in deterministic trading systems and real-time risk management. This investment places One Trading within a broader ecosystem of Nasdaq-backed innovations aimed at evolving how global liquidity is accessed and managed.

What FF News has reported before

FF News has frequently tracked Nasdaq’s efforts to integrate advanced technology into its core offerings. Recently, the publication covered how Nasdaq Calypso Unveils Agentic AI Framework to Automate Capital Markets Workflows, demonstrating the company's commitment to scaling AI adoption across capital markets. This focus on automation and workflow efficiency aligns with the broader trend of modernizing market infrastructure seen in the One Trading investment. While this is the first major report on One Trading, Nasdaq’s history of investing in and developing low-latency, high-resilience systems is a recurring theme in FF News’ coverage of the evolving institutional trading landscape, which increasingly demands real-time processing and sophisticated risk engines.

What this means

The move toward continuous settlement and 24/7 trading in regulated derivatives is a direct challenge to the T+X settlement cycle and the traditional "market hours" model. By eliminating the mutualized default fund, One Trading is testing a high-stakes alternative to the standard Central Counterparty (CCP) model. This puts pressure on legacy exchanges to justify their capital-heavy margin requirements and rigid operating hours. The industry is clearly moving toward a "digital-first" infrastructure where risk is managed in real-time rather than overnight. The primary question for the sector is whether regulators will fully embrace auto-liquidation at scale for complex, long-dated derivatives during periods of extreme market volatility.