IRGiT Upgrades to Nasdaq's X-Stream Clearing Technology
April 15 2015 - 7:02AM
IRGiT and
Nasdaq (Nasdaq:NDAQ)
today announced an agreement to upgrade its post-trade platform to
Nasdaq's X-stream Clearing technology. Under the terms of the
agreement, IRGiT (Izba Rozliczeniowa Gield Towarowych S.A.) or the
Warsaw Commodity Clearing House, will replace its existing legacy
engine (Condico Clearing) with one powered by X-stream technology.
The upgrade is expected to be rolled out by mid-2016.
The new technology upgrade will give IRGiT improved
functionality, offering scalability which will offer opportunities
to expand its clearing capabilities to a variety of other asset
classes, including commodities.
"We are proud to support IRGiT's post-trade development and
their focus on providing a high performance, reliable clearing
house to its market players," said Lars OttersgÄrd, Executive Vice
President, Market Technology, Nasdaq. "With this new technology
upgrade, IRGiT is in strong position to execute on their expansion
vision, and Nasdaq looks forward to continuing this journey with
them."
Nasdaq's exchange technology, including trading, clearing, CSD
and market surveillance systems, is in operation in over 100
marketplaces across USA, Europe, Asia, Australia, Africa and Middle
East.
The information contained above is provided for informational
and educational purposes only, and nothing contained herein should
be construed as investment advice, either on behalf of a particular
security or an overall investment strategy. Neither Nasdaq nor any
of its affiliates makes any recommendation to buy or sell any
security or any representation about the financial condition of any
company. Statements regarding Nasdaq-listed companies are not
guarantees of future performance. Actual results may differ
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ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.
Nasdaq (Nasdaq:NDAQ) is a leading provider of
trading, clearing, exchange technology, listing, information and
public company services across six continents. Through its diverse
portfolio of solutions, Nasdaq enables customers to plan, optimize
and execute their business vision with confidence, using proven
technologies that provide transparency and insight for navigating
today's global capital markets. As the creator of the world's first
electronic stock market, its technology powers more than 70
marketplaces in 50 countries, and 1 in 10 of the world's securities
transactions. Nasdaq is home to more than 3,500 listed companies
with a market value of over $9.1 trillion and more than 10,000
corporate clients. To learn more, visit http://nasdaq.com/ambition
or http://business.nasdaq.com.
IRGiT (Warsaw Commodity Clearing House) Joint
Stock Company is the first Polish licensed Clearing and Settlement
House. Company mission is to ensure settlement and physical
delivery of power, gas, property rights and emission
allowances as well as to guarantee financial fulfilment of all
transactions. IRGiT provides clearing services for the Polish Power
Exchange. Since 2012 IRGiT is a member of Warsaw Stock Exchange
capital group. IRGiT is a member of EACH (The European Association
of Central Counterparty Clearing Houses), the association uniting
the supreme clearing houses of CCP type in Europe. For more
information please visit: http://www.irgit.pl
NDAQG
CONTACT: Media contacts:
Nasdaq: Ryan Wells, (646) 581-4286 (M),Ryan.Wells@nasdaq.com
IRGiT: Marek Onichimowski, +48 22 341 99 75,marek.onichimowski@irgit.pl
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