Polish clearing house KDPW_CCP selects Nasdaq OMX for risk management

Source: Nasdaq OMX Group

The Nasdaq OMX Group (Nasdaq:NDAQ) today announced that it has been selected to deliver a risk management solution to KDPW_CCP, Poland's primary securities clearing house and CCP (Central Counterparty).

Under the contract NASDAQ OMX will supply KDPW_CCP with its OTC clearing and Sentinel Risk Manager product in order to support trade lifecycle and risk management requirements for clearing of OTC traded instruments.

Sentinel Risk Manager is part of NASDAQ OMX's multi-asset clearing solution for OTC and listed derivatives. This modular suite of products enables clients to license their required functionality while preserving their existing software investment. The solution provides real-time risk management that enables the CCP to protect the integrity of the clearing house and its members while enabling cross margin benefits. Sentinel Risk Manager is compliant with pending European and U.S. legislation for OTC clearing (EMIR in Europe and Dodd Frank in the U.S.). Today both NASDAQ OMX's Nordic clearing house and IDCG in the U.S. have integrated the Sentinel technology within their CCP infrastructure.

Iwona Sroka, President and CEO of KDPW_ CCP said: "It was important to select a solution that easily integrates with KDPW's legacy CCP infrastructure and provides the connectivity and information required by our clearing members. NASDAQ OMX's Sentinel solution meets those requirements by providing the trade lifecycle and risk information required by KDPW and its members to clear OTC trades. This in combination with compliance with international regulation standards makes it a perfect match for the Polish market."

Lars Ottersgård, Senior Vice President NASDAQ OMX Market Technology commented: "We are pleased to partner with KDPW and look forward to supporting them in implementing a flexible and sustainable OTC risk management solution for the Polish market. Sentinel Risk Manager provides a unique opportunity for CCPs to deploy a sophisticated risk assessment solution that can easily plug into their existing clearing infrastructure and preferred external liquidity sources." 

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