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Nasdaq signs new tech deal with HKEX

First Published 12th April 2017

Hong Kong Exchanges and Clearing to upgrade derivatives market platform to Nasdaq Financial Framework architecture for trading, clearing and real-time risk management.

Lars Ottersgård, Nasdaq

Lars Ottersgård, Nasdaq

Nasdaq has announced a new agreement with Hong Kong Exchanges and Clearing Limited (HKEX) to upgrade the technological infrastructure of Hong Kong's main derivatives market, including trading, clearing and real-time risk management technologies. The agreement also extends the existing relationship for an additional five years. HKEX and Nasdaq have been technology partners since 1994.

Under the agreement with HKEX, Nasdaq will deliver a new multi-asset trading technology engine (Nasdaq Multi Matching Engine), a multi-asset derivatives clearing engine and a real-time risk management solution (Nasdaq Clearing Engine and Nasdaq Real-Time Risk), intended to increase performance, speed, flexibility and resiliency of trading and clearing. The new platform will also address the risk management and stress testing needs of CCPs and exchanges to manage risk of financial derivatives such as equity, FX, commodities and fixed income asset classes, all under the new Nasdaq Financial Framework architecture. The upgrade is expected to be completed in the second half of 2018.

"Nasdaq is proud of the technology partnership that has existed between our respective organizations for nearly 25 years," said Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq. "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."

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