Calypso upgrades with the custom code counted first.
We upgrade Nasdaq Calypso to V19 and review the custom code that slows every move. We also plan the AWS managed service option, and staff Calypso developers and analysts who hold Calypso Certification.
Agentic capabilities on Amazon Bedrock, 29 Sep 2026
release watch
Agentic capabilities29 Sep 2026
V19 and the Technical Bridge exam2026
connects with
in short·15-second read
Cohash works on Nasdaq Calypso, the capital markets platform Nasdaq took over when it acquired Adenza in November 2023.
We plan upgrades from V18 or earlier to V19, review custom Java extensions and workflows before the move, build integrations, assess the managed service Nasdaq offers on AWS, and supply certified Calypso developers and analysts on contract or permanent terms.
you probably need this if
Calypso is two versions behind and nobody has counted the custom extensions.
Each release breaks a ledger or payments interface that nobody owns.
Leadership asks about the AWS managed service, and nobody has a list of what you actually run.
Custom extension and workflow inventory marked keep, rewrite or retire
Regression pack from your trade population with a baseline run
V19 upgrade runbook with rehearsal timings
+ 3 more documents
who does it
Calypso Java developer (custom extensions and engines)Calypso front office business analystCalypso back office and settlements analyst
Calypso Certification
01 Nov 2023Nasdaq completes Adenza acquisition Calypso came to Nasdaq through the Adenza acquisition. Adenza itself was formed in 2021, from Calypso and AxiomSL. source ↗
25 Sep 2025Managed service on AWS Calypso offered as a managed service powered by AWS. source ↗
2026V19 and the Technical Bridge exam Calypso V19 released in 2026, following V18 in 2024. Nasdaq offers a V19 Technical Bridge exam for certified staff. source ↗
29 Sep 2026Agentic capabilities Agentic AI environment inside Calypso, hosted on Amazon Bedrock with an MCP integration layer. source ↗
today · Oct 22, 2026
the story · nasdaq calypso estate
From the first call to a setup your own team can run.
Here's what usually prompts a call about your Nasdaq Calypso estate, what we do about it and in which order, and where you end up.
01 · where it hurts02 · what we change03 · how it runs04 · where you end up
incident board · nasdaq calypso estate3 open
openCalypso is two versions behind and nobody has counted the custom extensions.
recurringEach release breaks a ledger or payments interface that nobody owns.
blockedLeadership asks about the AWS managed service, and nobody has a list of what you actually run.
We pieced these together from Nasdaq Calypso situations that come up a lot. They're patterns. You won't find a specific client in them.
case file 01
Calypso V17 with custom engines and a V19 deadline
composite · not a client story
Beforethe situation
A treasury desk runs Calypso V17 with custom Java engines and scheduled tasks written over many years. Support pressure means V19 is now a priority, and nobody has a list of what the custom code does.
What we dothe work
We inventory every custom engine and task and mark each one for V19. The regression pack is built from the trades the desk actually books. The upgrade gets rehearsed on a production copy before anyone fixes a date.
Afterwhere you end up
The upgrade date rests on a counted list of code changes and a timed rehearsal, and the custom code is documented.
case file 02
Self-hosted Calypso and a question about the AWS managed service
composite · not a client story
Beforethe situation
Infrastructure costs for self-hosted Calypso keep rising, and the CIO asks whether Nasdaq's AWS managed service makes sense. Interfaces read the Calypso database directly.
What we dothe work
First we map interfaces and environments and mark what changes under the managed service. Third-party cloud risk questions go to the bank's risk team early on, with the interface list attached to them.
Afterwhere you end up
What the CIO gets is a decision paper grounded in the bank's own interfaces and the testing effort they need.
We don't start a step until the last one has produced something you can check.
step 01
Version and custom code review
First we document what you run: version, environments, custom extensions, scheduled tasks and engines. Then each customization is marked for V19.
step 02
Regression from your trades
We build a regression pack from your own trade population, lifecycle events and reports, and run it on the current version first so there's a baseline.
step 03
Upgrade rehearsal
We run the V19 upgrade on a copy of production and time it. Any differences get explained before anyone picks a production date.
step 04
Cut-over and handover
We're there for the production upgrade. After that your team keeps the regression pack and interface runbooks, and a plan for certifying people.
ai on nasdaq calypso
Where AI fits on Nasdaq Calypso, and where it needs guardrails.
On 29 September 2026 Nasdaq launched an agentic AI operating environment inside Calypso. It's hosted on Amazon Bedrock and its integration layer is built on MCP. First up is a natural language assistant over platform data and documentation. More agents are planned, client by client. For us the engineering work is governance and connection.
AI agentasks for data or an action
Scoped identityonly the access it needs
MCP serverthe one door into the platform
Logged, approveda person signs off on writes
CALNasdaq Calypsodoes the work
Per Nasdaq, an integrated layer built on the Model Context Protocol links Calypso's agentic environment to the platform and to clients' own AI. Use one identity per agent and read-only scopes to begin with. Log all of it, and put human approval on any trade or settlement action.
Agentic operating environment
According to Nasdaq, agents run, scale and connect inside a contained space. It's sandboxed and overseen live, and data isn't retained externally. Nasdaq hosts the agents and delivers them through Calypso's cloud, though on-premises clients can still connect. Our job is to check that against your AI governance and data rules.
Natural language assistant
The first capability answers user questions about Calypso data, documentation and other information. Before a wider rollout we help choose pilot users and write test questions whose answers are already known. Then we check the responses.
Bringing your own agents
Clients can plug their own AI systems in through the MCP layer. We design the identity each of those agents runs as and decide which data it may read. Its actions are reviewed and logged.
AI around Calypso upgrades
On upgrades, AI can document custom workflows and reports and draft test scenarios. Hand it regression differences and it triages them. A specialist confirms every result.
How Calypso connects front office, operations and finance
Trades are booked into Calypso by traders, and valuation runs off market data. Calypso handles the trade lifecycle, sending confirmations, payments and accounting, while agents in Nasdaq's agentic environment read platform data with scoped access.
These are working documents, written against your configuration, so your team can run them without us.
inventory01
Custom extension and workflow inventory marked keep, rewrite or retire
yours to keep
tests02
Regression pack from your trade population with a baseline run
yours to keep
runbook03
V19 upgrade runbook with rehearsal timings
yours to keep
tests04
Managed service assessment covering interfaces, environments and testing
yours to keep
design05
Agent identity, scope and logging design for the agentic environment
yours to keep
plan06
Certification plan by track for your Calypso team
yours to keep
talent and delivery · nasdaq calypso
Certified engineers, wherever you need them.
Some clients want a project team, some want a couple of engineers on theirs. Either works. Onsite, nearshore or offshore, with handovers across time zones that keep things moving.
Calypso Java developer (custom extensions and engines)
Calypso front office business analyst
Calypso back office and settlements analyst
Calypso upgrade lead
Calypso integration developer
due diligence · nasdaq calypso
Questions to ask any partner, including us.
Put these to anyone bidding on your Nasdaq Calypso work. The ones who've done it answer differently from the ones who've read about it.
Q1
Which of our custom engines and extensions break on V19?
Custom code sets the length of a Calypso upgrade. Review it before the regression plan, not after.
Q2
Has your technical team passed the V19 Bridge exam?
There's a V19 Technical Bridge exam from Nasdaq for certified technical staff, and it shows who has actually studied the target version.
Q3
What do we still own on the AWS managed service?
Nasdaq runs the platform. Interfaces, test packs and business configuration still need an owner at the bank.
Q4
What will AI agents read in Calypso, and under which identity?
Nasdaq's agentic environment connects agents through MCP. Each agent needs its own identity, narrow scopes and logging.
Q5
How will regression testing use our own trades?
Generic scripts miss your product mix and lifecycle events. Real trade populations show the breaks that matter.
01Who owns Calypso now?
Nasdaq owns it. In 2021 Calypso merged with AxiomSL to form Adenza, and on 1 November 2023 Nasdaq completed its acquisition of Adenza. The product is now sold as Nasdaq Calypso.
02What does a V19 upgrade involve?
It depends on your starting version and how much custom code you run. We review custom extensions and workflows against V19, build a regression plan from your trades and rehearse the upgrade on a copy of production before setting a date.
03Are your Calypso people certified?
Yes. Calypso Certification from Nasdaq has Front Office, Back Office and Technical tracks, and there's a V19 Technical Bridge exam on top. We check each person's track and version before they start.
04Should we move to the AWS managed service?
Hosting cost is part of it. So is how much custom code you'd carry and how your risk team views third-party cloud. We write down what changes for interfaces, environments and testing, and you decide from that.
05Do you also work on Murex?
Yes. Some banks run both, and we have a separate Murex MX.3 page.
services
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