Japan Exchange Group goes live on Nasdaq derivatives trading system
Japan Exchange Group’s (JPX) subsidiary, Osaka Securities Exchange (OSE), has gone live on Nasdaq’s new derivatives trading system.
The trading system will provide OSE with “higher performance, longer trading hours and more flexibility” for new products.
In addition to the trading system, OSE has also launched Nasdaq’s real-time, cross-market surveillance (Smarts) and pre-trade risk management (TradeGuard) technologies. These new systems will help OSE to “bolster safety and market quality”.
Hiromi Yamaji, president and CEO, Osaka Securities Exchange, says the new systems bring “enhanced surveillance and risk management functions”.
Nasdaq and JPX have been working together since 2011.
Nasdaq says its exchange technology, including trading, clearing, central securities depository (CSD) and market surveillance systems, is in operation in over 100 marketplaces across the US, Europe, Asia, Australia, Africa and the Middle East.
There have been two other notable deals for JPX this year.
JPX selected Sweden-based Cinnober for risk monitoring – including the entire Japanese market of equities, bonds, futures, options, credit default swap (CDS) and interest rate swap (IRS).
Cinnober’s flagship Tradexpress clearing platform was also on hand to help JPX build a real-time clearing solution for its listed derivatives market.