The Nasdaq OMX Group (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 Ottersgard, 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.