New York
12 April 2017
Reporter: Stephanie Palmer

Nasdaq and HKEX strengthen tech relationship


Hong Kong Exchanges and Clearing Limited (HKEX) has extended its relationship with Nasdaq, appointing it to upgrade the infrastructure of its derivatives market.

Nasdaq will implement upgrades to HKEX’s trading, clearing and risk management technologies, providing its Nasdaq Multi Matching Engine, plus its multi-asset derivatives clearing engine Nasdaq Clearing Engine, and its risk management solution Nasdaq Real-Time Risk.

The new solutions are intended to improve the performance, flexibility and resilience of trading and clearing, and to help central counterparties and exchanges to manage new risks around financial derivatives.

They will be based on the Nasdaq Financial Framework, an architecture allowing for integrated applications across the trade lifecycle, using a single operational hub.

The clearing solution will be integrated with the matching, making for a more harmonised back office, while the whole system is built to accommodate continuous change. Other third-party trading and post-trade systems should be able to integrate easily, making for a reduced total cost of ownership.

Richard Leung, co-head of IT at HKEX, 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.”

He added: “We look forward to completing our upgrade smoothly and receiving continued high-quality technical support from Nasdaq.”

HKEX and Nasdaq have also agreed to extend their existing relationship for at least another five years. The institutions have worked together as partners since 1994.

Lars Ottersgård, executive vice president and head of market technology at Nasdaq, said: "Nasdaq is proud of the technology partnership that has existed between our respective organisations for nearly 25 years."

He added: “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."

The technology upgrade is expected to be complete in late 2018.

More technology news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Societe Generale boosts ESG reporting
22 November 2017 | Paris | Reporter: Jenna Lomax
The new solution allows institutional investors and asset managers to rate their investments against ESG indicators
Strate adopts Nasdaq blockchain solution for voting
22 November 2017 | Stockholm | Reporter: Becky Butcher
Nasdaq is set to provide its blockchain electronic voting solution to South African Central Securities Depository (CSD) Strate
Volante Technologies partners with eVision
21 November 2017 | New York | Reporter: Jenna Lomax
Volante will use eVision on its VolPay Suite, which is designed to accelerate all aspects of payments transformation projects, for Egypt and North Africa
Esprow launches new version of ETP Studio
21 November 2017 | New York | Reporter: Jenna Lomax
Esprow has launched version 3.0 of its ETP Studio for financial information exchange
InvestCloud builds on digital platform
17 November 2017 | Los Angeles | Reporter: Stephanie Palmer
Financial technology provider InvestCloud has added a new portfolio management tool to its digital platform
Citi pilots new platform for proxy voting
14 November 2017 | London | Reporter: Jenna Lomax
The platform, which is supported by Computershare, will be initially rolled out in the UK for the 2018 proxy season
WTW’s AMX chooses InvestCloud to boost asset management platform
07 November 2017 | London | Reporter: Stephanie Palmer
InvestCloud has been selected by Willis Towers Watson’s Asset Management Exchange to provide a digital interface to connect asset owners and management
More technology news