| | April 20218CIOReviewIN MY OPINIONOPEN SOURCES, OPEN DOORS OR HOW TO INNOVATE IN A COMPETITIVE CLOUD MARKETBy Garrick Stavrovich, the Lead Product Manager for Nasdaq's Global Information ServicesWhat's the best approach when first soaring into the cloud? How does one find the right position to succeed in an area where competitors are already established? It may be counterintuitive, but the best way to protect your technology future is to keep everything out in the open. Employing and contributing to open-source is the right path forward even among players that can be very proprietary about technology. We all take pride in building our own technology, and in markets at times of great volatility, competition becomes even more intense. My colleagues and I are accustomed to this. Competition in the world of exchanges is fierce. Nasdaq fights not only for every IPO, every listing and trading client, we also face competition for every market data customer. We're competing not only against fellow exchanges, but also against a host of other data providers that joined the cloud earlier. So when it came to building a cloud platform to deliver a suite of our data products, we thought about it as if we were starting from scratch using modern technologies and techniques. We decided to go the route that was the most fast-paced, customer-friendly and efficient and use open-source technology to build Nasdaq Cloud Data Services. Proprietary technology isn't going anywhere, but to innovate in this environment, when the cloud is becoming ubiquitous but is still new territory even for some established players, we decided open-source was the right choice. Utilizing the cloud means making more data available to a wider population of users in an efficient and cost-effective way. That's part of our DNA at Nasdaq, which was founded on the idea that people don't need to be in the same physical space to be part of a community, and that the financial markets should be accessible to everyone, everywhere. The cloud operates on
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