OSE taps Nasdaq for trading and surveillance upgrade

Japan Exchange Group’s Osaka Exchange (OSE) has selected Nasdaq’s Eqlipse Trading and Market Surveillance platforms to support the development of its next-generation derivatives infrastructure, in a move aimed at strengthening Japan’s position in global derivatives markets.

The agreement expands Nasdaq’s long-standing technology relationship with Japan’s financial services sector and marks a significant step in OSE’s modernisation programme. The exchange is seeking to enhance performance, scalability, and market integrity as global derivatives markets face increasing competition and structural change.

Ryusuke Yokoyama, President and CEO of OSE, said the decision builds on an established relationship between the two organisations. “We have built a strong relationship of trust with Nasdaq over many years in the field of market infrastructure, and this new initiative will further reinforce our long-term collaboration,” he said. “The platform will significantly enhance the foundation of derivatives trading at OSE, and by combining Nasdaq’s expertise with our own experience, we believe we can provide all market stakeholders with a safer and more efficient trading environment.”

Exchanges globally are upgrading core trading systems to accommodate higher volumes, more complex products, and shifting investor expectations. Technology providers are increasingly central to these efforts, offering modular and cloud-enabled systems designed to support faster product deployment and operational resilience.

Nasdaq Eqlipse Trading is designed to support multi-asset trading with ultra-low latency and scalable architecture, enabling exchanges to manage volume fluctuations and introduce new instruments more rapidly. The addition of Nasdaq’s Market Surveillance technology will provide OSE with analytics and AI-driven monitoring tools intended to detect and investigate potential market abuse, reinforcing regulatory compliance and market integrity.

The partnership further embeds Nasdaq technology within Japan’s financial ecosystem. The company already supplies capital markets, treasury, regulatory, and surveillance platforms—including Calypso, AxiomSL, and Trade Surveillance solutions—to major Japanese institutions.

Globally, Nasdaq provides market infrastructure and regulatory technology to exchanges, banks, central banks, and regulatory authorities, positioning itself as a key provider in the ongoing modernization of capital markets systems.

For Japan, the upgrade at OSE signals continued investment in resilient, high-performance derivatives infrastructure at a time when regional and global competition for trading activity remains intense.