NASDAQ OMX Risk Management And OTC Clearing Technology Now Powering KDPW_CCP
NEW YORK, Feb. 7, 2013 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ), the inventor of the electronic exchange and the world's largest exchange company, today announced that its OTC clearing and risk management solution, Sentinel, is now live on KDPW_CCP's OTC post-trade platform. The NASDAQ OMX technology supports the Polish clearing house and CCP's (central counterparty) trade lifecycle and risk management requirements for clearing of OTC traded instruments.
This is a new business area for KDPW_CCP following new European infrastructure regulation requiring the clearing of standardized OTC (over-the-counter) derivatives via central counterparties.
Aside from providing the trade lifecycle and sophisticated risk management required by KDPW_CCP and its members to clear OTC trades, the solution also interfaces with the CSD system KDPW_STREAM, trade confirmation platforms such as MarkitWire and SWIFT Accord, as well as trade compression platform and market data.
"KDPW_CCP is utilizing NASDAQ OMX's Sentinel technology as a part of its KDPW_OTC clearing system, to provide the robust real time risk management required by our clearing members," said Iwona Sroka, President and CEO of KDPW_CCP. "We aim to maintain our leadership role as Poland's de facto clearing house." "This partnership with KDPW_CCP marks a substantial milestone for our post-trade technology business," said Lars Ottersgård, Senior Vice President of Market Technology, NASDAQ OMX. "By offering clearing houses and CCPs, like KDPW_CCP, a robust OTC clearing and risk management solution for post-trade, we are meeting an industry demand head on. We're very pleased to be supporting KDPW_CCP in its efforts." NASDAQ OMX is one of the world's leading suppliers of clearing systems and operates three clearing houses for its own markets. About NASDAQ OMX: The inventor of the electronic exchange, The NASDAQ OMX Group, Inc., fuels economies and provides transformative technologies for the entire lifecycle of a trade - from risk management to trade to surveillance to clearing. In the U.S. and Europe, we own and operate 25 markets, 3 clearinghouses and 5 central securities depositories supporting equities, options, fixed income, derivatives, commodities, futures and structured products. Able to process more than 1 million messages per second at sub-40 microsecond speeds with 99.99% uptime, our technology drives more than 70 marketplaces in 50 developed and emerging countries into the future, powering 1 in 10 of the world's securities transactions. Our award-winning data products and worldwide indexes are the benchmarks in the financial industry. Home to approximately 3,400 listed companies worth $6 trillion in market cap whose innovations shape our world, we give the ideas of tomorrow access to capital today. Welcome to where the world takes a big leap forward, daily. Welcome to the NASDAQ OMX Century. To learn more, visit www.nasdaqomx.com . Follow us on Facebook ( http://www.facebook.com/NASDAQ ) and Twitter ( http://www.twitter.com/nasdaqomx ). (Symbol: NDAQ and member of S&P 500) Cautionary Note Regarding Forward-Looking Statements The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about Sentinel and NASDAQ OMX's other products and offerings. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission. We undertake no obligation to release any revisions to any forward-looking statements. NDAQGCONTACT: NASDAQ OMX Media Contact:
Ryan Wells
(212) 231-5541 (office)
(646) 581-4286 (mobile)
Ryan.Wells@NASDAQOMX.com
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