Nasdaq and Extraordinary Re signed a new market technology agreement for Nasdaq to deliver matching engine technology via its architecture. Extraordinary Re will deploy this technology through its patented Liquid Insurance Contract risk allocation platform.
Extraordinary Re is creating a liquid platform for $22 trillion in insurance liabilities. The insurtech is building a system to handle a broad range of insurance liabilities and make them available and attractive to institutional investors. It will operate its system on a private cloud using blockchain technology to transmit flow-through information to its participants. The go-live is targeted for summer 2018.