Nasdaq has signed a deal to deliver its clearing and real-time risk management technology via the Nasdaq Financial Framework to SIX x-clear.

The technology will power SIX’s clearing of pan-European equities and Nordic derivatives.

SIX already uses Nasdaq’s matching engine technology for the trading of equities, ETFs, structured products, funds and fixed income, in addition to SMARTS Market Surveillance and Nasdaq Pre-Trade Risk Management.

Nasdaq is also in the process of implementing the Nasdaq Financial Framework index technology to support SIX’s index business, including the SMI.

“With the ambition to provide our clearing members with the most sophisticated and efficient infrastructure, we will consolidate and renew our clearing infrastructure to strengthen our efficiency and to decrease operational complexity,” said Thomas Zeeb, head of securities and exchanges and member of the board at SIX.

“We are happy to collaborate with Nasdaq, a long-trusted partner. We are certain that the new clearing infrastructure will provide our clients simplified and efficient access to markets and asset classes.”

Adena Friedman, president and CEO at Nasdaq, added: “By leveraging our Nasdaq Financial Framework for the pan-European clearing business, SIX will be providing its clearing members with an integrated and streamlined experience. We are proud to support SIX’s growth ambitions through this important, long-term relationship.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: