The Nasdaq Stock Market has seen significant change in the past couple of years with the acquisition of the International Stock Exchange and Canadian Stock Exchange, as well as the beginning of its “dark pool” operation, a private trading exchange for The Goldman Sachs Group Inc.

In possibly its biggest shift, Nasdaq Inc. is embarking on an initiative as tech provider to external organizations. Michael Weiss (pictured, left), senior manager at Nasdaq, and Shere Saidon (pictured, right), analytics manager at Nasdaq are utilizing Hitachi Vantara Corp.’s Pentaho technology heavily in this new venture, and they are excited to see what will come of their tech pivot.

“We took our technology, and now we host it for Goldman [Sachs]. … We’ve provided them an entire solution, so now they don’t have to manage their own dark pool, and now we’re going to look to expand that to other potential clients,” Weiss said.

Weiss and Saidon spoke with Rebecca Knight (@knightrm) and Dave Vellante (@dvellante), co-hosts of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during the PentahoWorld event in Orlando, Florida. They discussed the new direction Nasdaq is taking with its tech offerings and how they plan to use Pentaho software to further improve processes. (* Disclosure below.)

Investing in new tech, maintaining core business

As its trade volumes decline, Nasdaq is utilizing its expertise in operating exchanges to open new avenues for business. The company is working to make this aspect of its offerings more scalable with the help of Pentaho.

“How do you become a service provider … for these other companies to come in and use your tech? We’re looking at how to rewrite our entire platform from trading to the back-end,” Weiss said.

Nasdaq is working with Hitachi Vantara to improve internal processes, as well as external expansions. “We leverage Pentaho to do a lot of data integration, allowing us to really answer our business questions. Previously, it would take days to put basic reporting together; now we’ve got it all automated,” Saidon said.

Big data’s typical challenge of sheer mass is making infrastructure a priority at Nasdaq, another element Pentaho has provided support in. “The Hadoop ecosystem now lets us maintain that data without all the unnecessary cost,” Weiss said.

Still optimizing processes around dark pool management, Nasdaq already has big plans for expansion — both tempered and inspired by new regulatory obligations. Looking ahead, Weiss predicted companies like Uber Technologies Inc. and StubHub Inc. will soon become regulated to the point that they’ll require some operational assistance.

“We’re good at operating more regulated markets. … That’s where we can come in … and help wade through those regulations … and build softwares to adhere to [them],” Weiss said.

Already looking even further out, Weiss predicted that a more streamlined deployment process is not far off. “I can see a future where you can stand up and do an exchange with the click of a button,” he concluded.

Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of PentahoWorld. (* Disclosure: TheCUBE is a paid media partner for PentahoWorld. Neither Hitachi Vantara, the event sponsor, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE