Airbus’ Skytra selects Nasdaq to provide the technology for its new venue for air travel price derivatives
January 23 2020 - 6:00AM
Airbus’ wholly owned subsidiary Skytra has selected Nasdaq (Nasdaq:
NDAQ), architect and provider of the world’s most widely adopted
financial market infrastructure technology, to provide the core
technology for its derivatives trading venue.
Headquartered in London, Skytra was recently established to help
the $1 trillion per annum air travel industry hedge its revenue
risk through the trading of cash-settled futures and options
contracts based on a series of Skytra Price Indices. This is the
first time that the industry will have financial risk management
instruments available to them specifically to address revenue
volatility.
The air travel industry makes long-term financial commitments,
but is challenged by short-term revenue visibility, where up to 90%
of the tickets are booked within 90 days before take-off. Skytra's
index futures and options will improve airlines' ability to manage
their revenue risk in order to support their long-term financial
planning. The Skytra indices have been developed over a period of
two years in close collaboration with the air travel industry.
As part of the agreement, Nasdaq will deliver a full suite of
marketplace systems, including the core matching engine, the
regulatory reporting required under MiFID II, and the market
surveillance and pre-trade risk management solutions required to
safeguard the integrity of the trading venue. The systems will be
hosted in Nasdaq’s data centres and the public cloud. Nasdaq will
provide a fully managed service, including technical operations of
all software and infrastructure.
Adena Friedman, President and CEO, Nasdaq said:
“The creation of Skytra by Airbus represents a dynamically new
intersection between aviation and financial marketplaces, where the
benefits will extend to companies in both ecosystems and the
broader markets economy. By integrating our market technology,
Skytra will have the scalability and flexibility to continuously
improve the trading experience to the benefit of both the global
airline industry and financial market participants.”
Mark Howarth, CEO, Skytra said: “We chose to
work with Nasdaq because of its impressive track record in
delivering best-in-class infrastructure, technology, and innovation
for markets across the globe. Its modular architecture means we
will be positioned for growth as the Skytra platform builds
traction with the airline industry and as we cater to the wider
needs of other market participants.”
Christian Scherer, Chief Commercial Officer, Airbus
said: “Skytra has been created in collaboration with
the air travel industry and players outside it to enable more
financial predictability in a volatile market. We are delighted
that Nasdaq, a leader in financial market infrastructure, will be
providing the core technology needed to deliver the solution the
air travel industry needs.”
Skytra is in the process of applying to the UK’s Financial
Conduct Authority for approval to operate a Multilateral Trading
Facility (MTF) and to be registered as a Benchmark
Administrator.
Nasdaq's market technology powers more than 250 of the world's
market infrastructure organizations and market participants,
including broker-dealers, exchanges, clearinghouses, central
securities depositories and regulators, in over 50 countries with
end-to-end, mission-critical technology solutions.
About AirbusAirbus is a global leader in
aeronautics, space and related services. In 2018 it generated
revenues of €64 billion and employed a workforce of around 134,000.
Airbus offers the most comprehensive range of passenger airliners.
Airbus is also a European leader providing tanker, combat,
transport and mission aircraft, as well as one of the world’s
leading space companies. In helicopters, Airbus provides the most
efficient civil and military rotorcraft solutions worldwide.
About SkytraSkytra Ltd. is a wholly-owned
subsidiary of Airbus based in London. It was established in 2019 to
produce new air travel indices and to launch and operate a
regulated trading venue. Skytra works in close partnership with air
travel and financial market experts to develop new risk management
instruments for the benefit of the entire air travel industry. To
learn more, visit www.skytra.com
About NasdaqNasdaq (Nasdaq: NDAQ) is a
global technology company serving the capital markets and other
industries. Our diverse offering of data, analytics, software and
services enables clients to optimize and execute their business
vision with confidence. To learn more about the company, technology
solutions and career opportunities, visit us on LinkedIn, on
Twitter @Nasdaq, or at www.nasdaq.com
Media Contacts
Skytra/Airbus
Simon Packard, MHP Communicationsskytra@mhpc.com
/ +44 (0) 20 3128 8835
Rod Stone, Airbusrod.stone@airbus.com / +33 531
085826
Nasdaq
Ryan WellsMobile: +1 646 648 3887ryan.wells@nasdaq.com
Yan-yan Tong Mobile: +46 (0)73 449 66 83
yan-yan.tong@nasdaq.com
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