Japan Exchange Group overhauls clearing platform with Cinnober
JPX builds new real-time clearing platform with Cinnober
Japan Exchange Group (JPX) is building a real-time clearing solution for its listed derivatives market with the help of specialist provider Cinnober. Sweden-based Cinnober is providing JPX with its flagship Tradexpress clearing platform.
JPX’s listed derivatives market is operated by the Osaka Securities Exchange (OSE) and cleared by the Japan Securities Clearing Corporation (JSCC).
JPX was created in early 2013 via the merger of the Tokyo Stock Exchange Group and the Osaka Securities Exchange. In addition to providing market infrastructure and market data, JPX also provides clearing and settlement services through a central counterparty, and conducts trading oversight.
“JPX seeks to create a top-modern clearing system and implement a new technical architecture for the Japanese market,” states Cinnober.
Cinnober was chosen as result of a “detailed analysis and selection process”, according to Hiroyuki Shibuya, CIO of JPX. “We are making a major strategic investment,” Shibuya adds.
The new solution is hoped to bring global standards and international best practice to JPX, as well as better risk management, efficiency and faster time to market.
Tradexpress, which is a multi-asset clearing solution, enables clearing houses to monitor and manage risk in real time across multiple markets, both OTC and exchange-traded. Its users include BM&FBovespa in Brazil, LME Clear in the UK, Euronext in the Netherlands, Johannesburg Stock Exchange (JSE) in South Africa, and The Stock Exchange of Thailand (SET).
