IRGiT Upgrades to Nasdaq's X-Stream Clearing Technology
April 15 2015 - 07:02AM
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
Ottersgård, 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 materially from those expressed or
implied. Past performance is not indicative of future results.
Investors should undertake their own due diligence and carefully
evaluate companies before investing. 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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: The NASDAQ OMX Group, Inc. via Globenewswire
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