ASX Selects Nasdaq's Post-Trade Risk Technology to Manage Its Real-Time Risk Across Clearinghouses
July 01 2015 - 10:40PM
New Technology Will Respond to Global Regulations Requiring
Intraday Risk Management and Increased Margin Methodology
Sophistication
NEW YORK and SYDNEY, Australia, July 1, 2015
(GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ) and the Australian
Securities Exchange (ASX) announced today that Nasdaq has been
selected to deliver ASX's next generation post-trade risk
management solution. Sentinel Risk Manager will provide a single,
real-time risk management system across both ASX clearing houses
and all asset classes, including real-time margin calculation and
related customer risk analytics. The new risk system will be
implemented in five phases over the next two years.
"Consolidating our risk technology onto Sentinel's
real-time technology will enable ASX to more efficiently fulfill
global risk management best practices and provide risk capital
benefits to customers," said Tim Thurman, Chief Information
Officer, ASX. "The opportunity to deliver both a cross-margining
simulation and optimization service will add significant value to
our clearing participants and their clients."
ASX's investment in Sentinel reflects the
strategic importance the exchange places on its clearing houses
operating to the highest risk management standards, both to meet
global regulatory obligations and to provide protection and
efficiencies to customers, investors and the wider market. The
initiative is part of the technology transformation ASX announced
in February 2015, whereby all of its major trading and post-trade
platforms will be upgraded over the next three to four years. The
investment will ensure Australia's financial market infrastructure
remains world-class.
"We are pleased to continue building our long-term
relationship with ASX through implementing a flexible and
sustainable post-trade risk management solution for the Australian
Market," said Lars Ottersgård, Executive Vice President, Market
Technology, Nasdaq. "Our solution's high performance architecture
enables exchanges to respond to global regulations requiring
intraday risk management and increased margin methodology
sophistication. We look forward to supporting ASX on this important
technology enhancement to its markets."
Nasdaq has provided technology to ASX since 1996.
In addition to ASX, its exchange technology, including trading,
clearing, CSD and market surveillance systems, is in operation in
over 100 marketplaces across USA, Europe, Asia, Australia, Africa
and the Middle East.
About Nasdaq
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
approximately $9.5 trillion and more than 10,000 corporate clients.
To learn more, visit: nasdaq.com/ambition or
business.nasdaq.com.
About
ASX
ASX operates at the heart of Australia's financial
markets and is among the world's top 10 exchange groups. It is a
fully integrated exchange across multiple asset classes, servicing
retail, institutional and corporate customers directly and through
Australian and international intermediaries. ASX's listings,
trading, post-trade, OTC clearing, technology, information and data
services allow customers to invest, trade and manage risk. ASX
advocates regulations that support end-investors and invests in the
infrastructure that promotes Australia's financial market stability
and global competitiveness. More information about ASX can be found
at www.asx.com.au
NDAQG
CONTACT: For Media Inquiries:
The Australian Securities Exchange (ASX):
Matthew Gibbs
matthew.gibbs@asx.com.au
+61 2 9227 0218 (Office)
0411 121219 (Mobile)
Nasdaq Media Contact:
Ryan Wells
ryan.wells@nasdaq.com
+1 (212) 231-5541 (Office)
+1 (646) 581-4286 (Mobile)
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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