U.S. exchange operator Nasdaq OMX Group has introduced a new clearing system, Financial Times reports. It will use the Nasdaq Genium Risk system for its Nordic clearinghouse. The new system will provide “real-time” risk management for several exchange-traded assets and over-the-counter derivatives.
Heightened market volatility and reform measures by the Group of Twenty nations calling for greater use of clearing have spurred real-time clearing services. Brazilian exchange BM&FBOVESPA had entered into an agreement with independent Swedish and UK clearing technology companies Cinnober Financial Technology and Calypso for a real-time clearing system in October.
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