Nasdaq Calypso to Power Shared Treasury Platform for Georgia's Five Biggest Banks Under Central Bank-Backed Deal
Nasdaq Calypso to Power Shared Treasury Platform for Georgia’s Five Biggest Banks Under Central Bank-Backed Deal #
Nasdaq has announced a country-level partnership with the National Bank of Georgia (NBG) to upgrade treasury and financial markets infrastructure for five of the country’s largest commercial banks, deploying its Calypso platform across a shared, centralized system.
The five banks involved, Bank of Georgia, TBC Bank, Liberty Bank, Terabank, and Basisbank, together hold the majority of Georgia’s commercial banking sector assets. All five will operate within a single Calypso instance, with each bank maintaining its own segregated data environment while sharing common market data feeds, reporting workflows, and governance oversight. The platform covers the complete trade lifecycle: front-office deal capture and pricing, middle-office risk management and compliance, and back-office settlement, accounting, and financial reporting.
The initiative operates under Georgia’s Market Advancement Program (GMAP) and was coordinated with the Georgian Financial Markets Treasuries’ Association (GFMTA). Project management funding was provided by Japan through the Japan-EBRD Cooperation Fund.
Natia Turnava, Governor of the National Bank of Georgia, described modernizing the country’s treasury infrastructure as “a strategic priority” and a key step in developing Georgia’s financial markets. The shared platform is also expected to strengthen the NBG’s macroprudential capabilities by improving its real-time visibility into systemic liquidity risk across the sector. The system will support alignment with ISO 20022 messaging standards.
For Nasdaq, the deal uses an unusual deployment model. Rather than selling to individual banks, the company is providing a single shared instance backed by the central bank’s institutional authority. According to Nasdaq’s announcement, each participating institution will receive a configuration tailored to its own risk profile and business requirements within that common framework.
The GFMTA said the move raises treasury management standards across the sector as a whole. The five banks’ simultaneous adoption of the platform is part of Georgia’s broader effort to develop a modern, well-governed capital market.
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