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.
