Nasdaq is to deliver its clearing and real-time risk management technology via the Nasdaq Financial Framework to SIX x-clear, a provider of clearing services. The technology will power SIX's clearing of pan-European equities and Nordic derivatives.
SIX already uses Nasdaq's matching engine technology for the trading of equities, ETFs, structured products, funds and fixed income, in addition to 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 SMI.
"With the ambition to provide our clearing members with the most sophisticated and efficient infrastructure, we will consolidate and renew our clearing infrastructure to strengthen our efficiency and to decrease operational complexity," says Thomas Zeeb, Head Securities & Exchanges, Member of the Executive Board, SIX. "We are happy to collaborate with Nasdaq, a long-trusted partner. We are certain that the new clearing infrastructure will provide our clients simplified and efficient access to markets and asset classes."
"SIX is an important central infrastructure provider, offering outstanding products and services for securities trading, stock market transactions, financial information and payment transactions," says Adena Friedman (pictured), President and CEO, Nasdaq. "By leveraging our Nasdaq Financial Framework for the pan-European clearing business, SIX will be providing its clearing members with an integrated and streamlined experience. We are proud to support SIX's growth ambitions through this important, long-term relationship."
Nasdaq's market infrastructure technologies, including trading, real-time risk, index, clearing, CSD and market surveillance systems are operated in more than 100 marketplaces, regulators, clearinghouses and central securities depositories across the Americas, Europe, Asia, Australia, Africa, the Middle East and the Caribbean.
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