The Australian Securities Exchange (ASX) has appointed Nasdaq to deliver its next generation post-trade risk management solution. Nasdaq says that Sentinel Risk Manager will provide a single, real-time risk management system across both ASX clearing houses and all asset classes, including real-time margin calculation and related customer risk analytics. It says the new risk system will be implemented in five phases over the next two years.

Tim Thurman, the ASX chief information officer, said that consolidating risk technology onto Sentinel’s real-time technology will enable ASX to more efficiently fulfill global risk management best practices and provide risk capital benefits to customers. “The opportunity to deliver both a cross-margining simulation and optimisation service will add significant value to our clearing participants and their clients,” he said.

ASX says its investment in Sentinel reflects the strategic importance the exchange places on its clearing houses operating to the highest risk management standards, both to meet global regulatory obligations and to provide protection and efficiencies to customers, investors and the wider market. The initiative is part of the technology transformation it announced in February 2015, whereby all of its major trading and post-trade platforms will be upgraded over the next three to four years. The investment will ensure Australia’s financial market infrastructure remains world-class, it says.

“We are pleased to continue building our long-term relationship with ASX through implementing a flexible and sustainable post-trade risk management solution for the Australian Market,” said Lars Ottersgard, Nasdaq executive vice president, market technology. “Our solution’s high performance architecture enables exchanges to respond to global regulations requiring intraday risk management and increased margin methodology sophistication. We look forward to supporting ASX on this important technology enhancement to its markets.”

Nasdaq has provided technology to ASX since 1996. In addition to ASX, its exchange technology, including trading, clearing, CSD and market surveillance systems, is in operation in over 100 marketplaces across USA, Europe, Asia, Australia, Africa and the Middle East.

 

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San Francisco-based Alambic Investment Management has appointed Ultimus Fund Solutions to provide fund administration services for the firm’s first mutual fund, a small cap value fund.  

Scottish Friendly Assurance Society, Scotland’s largest financial mutual, has gone live on the Linedata Icon fund administration solution.

 

SmartStream has announced the release of TLM Reconciliations Premiumv.2.5 – this new version provides a new reconciliation package for STIF and provides enriched services for ETD, OTC and NAV reconciliations.

Liquidnet, a global institutional trading network, has launched a Fixed Income dark pool that it says facilitates direct, peer-to-peer trading of corporate bonds among asset managers in the US, Canada and Europe, creating a much-needed hub of institutional liquidity.

AQMetrics, a provider of integrated risk and compliance software for the investment management industry, has reached an agreement with Exchange Data International (EDI), a provider of reference and corporate actions data.