ASX Upgrades its Equities Clearing Capabilities Via Nasdaq’s Technology Suite

Nasdaq (Nasdaq:NDAQ) has been selected by the Australian Securities Exchange (ASX) for the implementation of its equity options clearing technology, which is slated to replace the ASX’s existing equities technological configuration, according to a Nasdaq statement.

The ASX has been steadily upgrading its technology suite for the past year, having first embarked on the initiative in February 2015. The latest upgrade will see the phasing out of the ASX’s equities and equity options clearing technology, which will be undertaken by Nasdaq's Genium INET Clearing platform.

The Nasdaq's Genium INET Clearing platform supports several asset classes, including traditional cash and fixed income securities, derivatives, and commodities, among others. The platform has already been in use at ASX for its futures clearing however. The reliance on Nasdaq technology is the latest partnership with ASX since going live with Sentinel Risk Manager, Nasdaq's post-trade Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term solution.

According to Lars Ottersgård, Executive Vice President, Market Technology, Nasdaq, in a recent statement on the platform integration: "We are thrilled that ASX has chosen Nasdaq for these very essential post-trade developments. The post-trade space is undergoing significant global change from a regulatory, operational and customer requirement perspective. Proven technology that can provide flexible and improved product and service capability is critical in meeting the constantly changing post-trade environment."

"This post-trade phase of ASX's technology refresh will enable ASX to deliver globally proven technology and significant benefits to the Australian market, including increased flexibility, reduced complexity and scale efficiencies. While we have announced that ASX is exploring the potential of distributed ledger technology - or Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term - to transform settlement processes in our market, we will continue to operate our existing post-trade services as normal,” added Tim Thurman, Chief Information Officer at ASX.