Nasdaq OMX today announces that its Broker Services business is launching two new products for market participants aimed at streamlining connections to multiple information sources and automating management of centrally cleared trades.
The products - NOIIS and NetClear - are targeted towards market participants in the Nordic market.
NOIIS (NASDAQ OMX Information Interface Service) enables market participants to connect to a large number of information sources, providing trade capture, referential data and prices through one single interface, with the information normalized into a standardized format.
NetClear is a tool for automated handling of centrally cleared trades that allows market participants to reduce clearing & settlement investments and running costs as well as operational risk. NetClear provides the opportunity to reconcile all transactions intraday and support to handle deviations. NetClear also shows a breakdown of CCP margin requirements on the end customer level and keeps track of holdings on collateral accounts.
"The trading landscape today, with fragmented liquidity and the possibility to clear and settle at different venues in Europe, increases the demand to simplify and streamline the infrastructure for market participants," says Johan Rudén, head of NASDAQ OMX Broker Services. "Later this year, the NASDAQ OMX Nordic exchanges will migrate to INET, the world's most efficient trading platform, and central counterparty clearing will be introduced in the region. The NOIIS and NetClear products offer our customers seamless and cost-efficient ways of staying up-to-date with market changes."