Nasdaq is to integrate its strategic clearing platform, Nasdaq Real-Time Clearing, into FIA Tech’s Trade Data Network, in an effort to reduce the complexity of post trade data processing across the exchange traded derivative market.
The Trade Data Network combines trade data from buy side, brokers, clearing houses and clearing members into a common framework, creating a shared golden source of clearing activity for participating firms.
Magnus Haglind, senior vice president and head of products, marketplace technology, Nasdaq, said: “There is a global necessity to upgrade legacy post trade technology platforms, and interoperability must sit at the heart of the new global framework. A consistent operating model for data, systems and processes can deliver substantial benefits to market participants through more efficient use of capital and a more resilient operating model.”
Nick Solinger, president and CEO, FIA Tech, said: “Nasdaq’s integration of its strategic Real-Time Clearing system into the Trade Data Network will increase standardisation and network adoption.”
Integrating Nasdaq’s clearing platform will enhance the volume and quality of post trade data available to FIA Tech’s more than 8,000 members, while empowering central counterparty clearinghouses (CCPs) using Nasdaq’s clearing platform and end-users with the ability to conduct more reliable risk analysis, operate with greater capital efficiency, and lower overall risk exposure.
Through the Trade Data Network, FIA Tech provides market participants and post trade service providers with the tools to improve middle and back-office processes including trade-date clearing, give-ups, fee and commissions management, and helps to eliminate duplicate reconciliations across these functions.
©Markets Media Europe 2024
