NEW YORK and SYDNEY, Australia, July 1, 2015 (GLOBE NEWSWIRE) -- Nasdaq(Nasdaq:NDAQ) and the Australian Securities Exchange (ASX) announced today that Nasdaq has been selected to deliver ASX's next generation post-trade risk management solution. Sentinel Risk Manager will provide a single, real-time risk management system across both ASX clearing houses and all asset classes, including real-time margin calculation and related customer risk analytics. The new risk system will be implemented in five phases over the next two years.
"Consolidating our risk technology onto Sentinel's real-time technology will enable ASX to more efficiently fulfill global risk management best practices and provide risk capital benefits to customers," said Tim Thurman, Chief Information Officer, ASX. "The opportunity to deliver both a cross-margining simulation and optimization service will add significant value to our clearing participants and their clients."
ASX's investment in Sentinel reflects the strategic importance the exchange places on its clearing houses operating to the highest risk management standards, both to meet global regulatory obligations and to provide protection and efficiencies to customers, investors and the wider market. The initiative is part of the technology transformation ASX announced in February 2015, whereby all of its major trading and post-trade platforms will be upgraded over the next three to four years. The investment will ensure Australia's financial market infrastructure remains world-class.
"We are pleased to continue building our long-term relationship with ASX through implementing a flexible and sustainable post-trade risk management solution for the Australian Market," said Lars Ottersgård, Executive Vice President, Market Technology, Nasdaq. "Our solution's high performance architecture enables exchanges to respond to global regulations requiring intraday risk management and increased margin methodology sophistication. We look forward to supporting ASX on this important technology enhancement to its markets."
Nasdaq has provided technology to ASX since 1996. In addition to ASX, its exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and the Middle East.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,500 listed companies with a market value of approximately $9.5 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.
ASX operates at the heart of Australia's financial markets and is among the world's top 10 exchange groups. It is a fully integrated exchange across multiple asset classes, servicing retail, institutional and corporate customers directly and through Australian and international intermediaries. ASX's listings, trading, post-trade, OTC clearing, technology, information and data services allow customers to invest, trade and manage risk. ASX advocates regulations that support end-investors and invests in the infrastructure that promotes Australia's financial market stability and global competitiveness. More information about ASX can be found at www.asx.com.au
CONTACT: For Media Inquiries: The Australian Securities Exchange (ASX): Matthew Gibbs firstname.lastname@example.org +61 2 9227 0218 (Office) 0411 121219 (Mobile) Nasdaq Media Contact: Ryan Wells email@example.com +1 (212) 231-5541 (Office) +1 (646) 581-4286 (Mobile)