SIX to use Nasdaq’s clearing and risk management tech
Nasdaq will deliver its clearing and risk management technology via the Nasdaq Financial Framework to SIX x-clear, the European provider of clearing services.
The technology will power SIX’s clearing of pan-European equities and Nordic derivatives.
“We will consolidate and renew our clearing infrastructure to strengthen our efficiency and to decrease operational complexity,” says Thomas Zeeb, head securities and exchanges, member of the executive board, SIX.
SIX already uses Nasdaq’s matching engine technology for the trading of equities, ETFs, structured products, funds and fixed income, as well as SMARTS Market Surveillance and Nasdaq Pre-Trade Risk Management.
Nasdaq is also in the process of implementing the Nasdaq Financial Framework index technology to support SIX’s growing index business, including the Swiss Market Index (SMI).
Nasdaq’s market infrastructure technologies are utilised by marketplaces, regulators, clearing houses and central securities depositories.
Similarly, we recently reported that the National Stock Exchange of India (NSE) will use Nasdaq’s clearing, risk management and settlement technology. There’s more to this deal, read all about it here.
Also, back in March, Nasdaq filed a patent infringement lawsuit against IEX (aka Investors Exchange) over “unauthorised use” of its electronic trading technology.
