Nasdaq, Inc. (Nasdaq:NDAQ) and Hong Kong Exchanges and Clearing Limited (HKEX) have signed a deal in which Nasdaq will provide the Hong Kong’s main derivatives market with trading technology that will power its expansion, improve post-trade services and enhance real-time risk management technologies. HKEX has been a Nasdaq Market Technology client since 1994.
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Under the agreement, Nasdaq will deliver a multi-asset trading technology engine, a multi-asset derivatives clearing engine and a real-time risk management solution to bolster the infrastructure of HKEX, increasing their speed and resiliency. This infrastructure renovation is expected to take effect in the second half of 2018.
The revamp is expected to pave the way for several enhancements at HKEX, including central counterparty clearing. The upgrade also benefits the exchange to manage risk of financial derivatives such as equity, FX, commodities and fixed income asset classes, all under the new Nasdaq Financial Framework architecture.
Richard Leung, HKEX’s Co-Head of IT commented: “We have been able to provide superior capability and very reliable market infrastructure, high priorities at HKEX, with the Nasdaq technology we use in our derivatives market. We look forward to completing our upgrade smoothly and receiving continued high quality technical support from Nasdaq.”
Lars Ottersgård, Executive Vice President and Head of Market Technology at Nasdaq added: “Nasdaq is proud of the technology partnership that has existed between our respective organizations for nearly 25 years. HKEX is one of the global capital markets’ true innovators who are committed to the continuous introduction of new technologies to bolster and strengthen the product and services offerings for their clients and partners, along with a rigorous focus on shaping the future of our industry. We are thrilled to support HKEX on this journey and further our relationship in the years to come.”