Nasdaq has partnered with the National Bank of Georgia (NBG) to modernize the treasury and financial markets infrastructure across the country's banking sector. Five of Georgia's largest commercial banks—Bank of Georgia, TBC Bank, Liberty Bank, Terabank, and Basisbank—will adopt the Nasdaq Calypso platform under a shared, common infrastructure model. This initiative, operating under the Georgian Market Advancement Program (GMAP), represents a significant milestone in the development of Georgia's capital markets by standardizing operations and enhancing systemic oversight.

The project is coordinated in collaboration with the Georgian Financial Markets Treasuries' Association (GFMTA) and is financed by Japan through the Japan–EBRD Cooperation Fund. The shared infrastructure model allows banks to pool resources and expertise, reducing the individual burden of deploying and maintaining sophisticated treasury systems. By adopting a common platform, the banks aim to improve risk management, regulatory compliance, and operational resilience while supporting the continued growth of Georgia's financial system.

Strategic Importance for Georgia's Banking Sector

Georgia's commercial banking sector has experienced double-digit growth over the past five years, with total assets approaching USD 38 billion. As the sector expands, demand for advanced treasury infrastructure capable of supporting complex securities and derivatives markets has increased. The shared infrastructure approach provides an efficient path to achieving enterprise-grade risk management and meeting rigorous regulatory standards without the significant undertaking required for individual institutional deployments.

Nasdaq Calypso Platform Capabilities

The Nasdaq Calypso platform will be deployed as a centralized shared infrastructure, with each participating bank represented as a separate entity within the same instance. Key features include:

• Full Trade Lifecycle: Covers front-office deal capture, middle-office risk management, and back-office settlement and accounting.
• Data Segregation: Ensures each bank's data is fully segregated while operating within a common framework.
• Standardized Reporting: Enables harmonized workflows, shared market data, and collective governance.
• Single Source of Truth: Eliminates the need for multiple point solutions and reduces reconciliation overhead.

Systemic Benefits and Regulatory Oversight

Standardization delivers systemic benefits beyond individual institutions. With harmonized data and reporting across all five banks, the National Bank of Georgia gains enhanced visibility into treasury exposures, liquidity positions, and systemic risk. This supports more effective macroprudential supervision and reduces the regulatory burden on banks. The initiative also aligns Georgia with international financial standards, including ISO 20022, the global messaging standard for financial data exchange.

Participating Banks and Stakeholders

The five participating banks collectively represent the majority of Georgia's commercial banking sector assets. Their adoption of a common, internationally recognized platform marks a defining step in Georgia's emergence as a modern, well-governed financial market. The project reflects the commitment of the NBG, GFMTA, and the banking sector to building a robust, transparent financial system aligned with international best practices.

The Nasdaq composite index reversed its recent upward momentum, falling 111.08 points, or 0.42%, to trade at 26,158.15 after market open. This marks a notable pullback from the prior session's unofficial close, where the index had advanced 160.27 points, or 0.61%, to settle at 26,267.28, snapping a streak of consecutive session gains.

Market Performance Overview

The table below captures the Nasdaq's performance across recent sessions, illustrating the shift from the prior session's closing strength to the latest post-open decline:

The post-open decline of 111.08 points, or 0.42%, to 26,158.15 contrasts sharply with the buying interest that had characterised prior sessions, where the index had progressively climbed from 26,122.63 to an unofficial close of 26,267.28. The latest reading signals a shift in early session sentiment, with selling pressure emerging after the market open.