Nasdaq to Support Next Generation Upgrades for Trading, Pre-Trade Risk Management and Market Surveillance of Osaka Exchange as Part of Core JPX Expansion Strategy
NEW YORK and TOKYO, Jan. 18, 2015 (Korea Bizwire) — Japan Exchange Group (JPX) and Nasdaq have officially agreed on the development and support of a next-generation derivatives trading system for the JPX subsidiary, Osaka Exchange. In addition to the trading system, which will operate on Genium INET technology, Osaka will also tap industry-leading SMARTS Market Surveillance for its real-time market surveillance efforts, and TradeGuard for pre-trade risk management functionality, both Nasdaq technologies.
“We are proud and honored to have achieved this important milestone together with JPX and Osaka Exchange,” said Lars Ottersgård, Executive Vice President, Market Technology, Nasdaq. “As we have successfully provided services to Osaka since 2011, this new chapter in our relationship will be particularly focused on supporting the global impact of JPX’s business expansion, improving flexibility and performance capabilities, while delivering greater transparency and fair market practices across their derivatives markets. We look forward to a very productive and fruitful future with JPX.”
Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and Middle East. JPX is now the 42nd marketplace to take up SMARTS Market Surveillance technology.
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About Japan Exchange Group (JPX)
Tokyo Stock Exchange Group, Inc. (“TSE Group”) and Osaka Securities Exchange Co., Ltd. (“OSE”) agreed on November 22, 2011 to conduct a business combination. Following such, in August 2012, TSE Group acquired 66.67% of OSE’s stock in a TOB as part of such business combination, until finally merging on January 1, 2013 based on the business combination agreement between TSE Group and OSE. On January 1 , 2013, Japan Exchange Group, Inc. was established following the business combination between Tokyo Stock Exchange Group, Inc. and Osaka Securities Exchange Co., Ltd. Then in July the same year, JPX integrated the cash equity markets under Tokyo Stock Exchange, and also respectively consolidated our self-regulatory and clearing functions. The integration of derivatives markets under Osaka Securities Exchange scheduled for March 2014 will complete the reorganization of our market functions. JPX expect this to further increase convenience for investors and other market participants.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, 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 over $8.8 trillion and more than 10,000 corporate clients. To learn more, visit www.business.nasdaq.com.
CONTACT: Media Contacts:
Nasdaq: Ryan Wells, (646) 581-4286 (M),
Japan Exchange Group (JPX): Corporate Communications,
Source: NASDAQ OMX Group via GLOBE NEWSWIRE