NEW YORK and TOKYO, July 18, 2016 (GLOBE NEWSWIRE) — Japan Exchange Group (JPX) and Nasdaq have officially announced that JPX has gone live with their new next-generation derivatives trading system for the JPX subsidiary, Osaka Exchange. This is a milestone in the relationship between Nasdaq and JPX, who have been working together since 2011.
“We are proud to be supporting JPX as they successfully launch their new trading system on the Osaka Exchange,” said Lars Ottersgård, Executive Vice President, Market Technology, Nasdaq. “As JPX continues to expand its business both regionally and globally, the technology they’ve implemented will provide the flexibility and performance capabilities, as well as the risk and surveillance solutions, to help the exchange group meet and exceed their growth plans.”
The trading system, which is one of the fastest, most proven and robust matching engines in the world, will provide the Osaka Exchange with higher performance, longer trading hours and more flexibility for new products, all of which would contribute to its further business expansion. In addition to the trading system, Osaka has also launched Nasdaq’s real-time, cross-market market surveillance (SMARTS) and pre-trade risk management (TradeGuard) technologies. These new systems will help Osaka to bolster safety and market quality, while enhancing market integrity across their marketplace.
“We would like to express our gratitude and appreciation to all who have contributed to the successful launch of this new J-GATE platform,” said Hiromi Yamaji, President & CEO, OSE. “Powered by Nasdaq’s trading technology and innovative solutions such as SMARTS and TradeGuard, we will bring our customers the most deterministic trading platform with enhanced surveillance and risk management functions. We continue to make every effort to enhance reliability, usability and competitiveness of the OSE market.”
Nasdaq’s exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across the USA, Europe, Asia, Australia, Africa and the Middle East.
About Japan Exchange Group (JPX)
Tokyo Stock Exchange Group, Inc. (“TSE Group”) and Osaka Securities Exchange Co., Ltd. (“OSE”) agreed on November 22, 2011 to conduct a business combination. Following such, inAugust 2012, TSE Group acquired 66.67% of OSE’s stock in a TOB as part of such business combination, until finally merging on January 1, 2013 based on the business combination agreement between TSE Group and OSE. On January 1 , 2013, Japan Exchange Group, Inc. was established following the business combination between Tokyo Stock Exchange Group, Inc.and Osaka Securities Exchange Co., Ltd. Then in July the same year, JPX integrated the cash equity markets under Tokyo Stock Exchange, and also respectively consolidated our self-regulatory and clearing functions. The integration of derivatives markets under Osaka Securities Exchange scheduled for March 2014 will complete the reorganization of our market functions. JPX expect this to further increase convenience for investors and other market participants.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to 3,700 listed companies with a market value of $9.3 trillion and over 17,000 corporate clients. To learn more, visit nasdaq.com/ambition or business.nasdaq.com.
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