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Japan Exchange Group selects Cinnober’s real-time clearing for listed derivatives

Cinnober announces that it was selected by the Japan Exchange Group (JPX) to deliver a real-time clearing solution for its listed derivatives market, which is operated by the Osaka Exchange (OSE), and cleared by the Japan Securities Clearing Corporation (JSCC). The new implementation will be based on Cinnober’s proven TRADExpress RealTime Clearing.

In its ambition to enhance its delivery capabilities as an internationally renowned clearinghouse, JPX seeks to create a top-modern clearing system and implement a new technical architecture for the Japanese market. This global leading technology will provide real-time capabilities for clearing as well as sophisticated risk monitoring.

“We are proud to work with Cinnober as our partner to deliver our next generation clearing system, in which we are making a major strategic investment following a detailed analysis and selection process,” says Hiroyuki Shibuya, CIO of JPX. “We now look forward to working together as one team as we move towards implementing a real-time clearing system that meets both global standards and international best practice.”

The multi-asset clearing solution from Cinnober enables clearinghouses to monitor and manage risk in real time across multiple markets, both OTC and exchange-traded. The solution has proven itself at several high-profile CCPs globally — enabling margin and settlement savings for their clients thanks to netting effects, offering improved risk management, extreme performance, faster product development capabilities and efficient operations.

“We are extremely proud to have been selected to supply yet another clearing system to a prestigious exchange group,” says Cinnober CEO Veronica Augustsson. “As the leading provider of real-time clearing systems, we are positioned with a unique blend of knowledge and experience in this area. Large marketplaces with global ambitions value technology that can reduce risks and handle both today’s and tomorrow’s demand. This is demonstrated by major exchanges successfully using our technology. JPX are known for its high demand on quality and we are therefore extra delighted to have been selected to make this journey together.”

JPX — one of the world’s largest financial marketplaces — was established in January 2013 via the merger of the Tokyo Stock Exchange Group and the Osaka Securities Exchange. It operates financial instruments exchange markets to provide reliable venues for trading listed securities and derivatives instruments. In addition to providing market infrastructure and market data, JPX also provides clearing and settlement services through a central counterparty, and it conducts trading oversight to maintain the integrity on the markets.

Cinnober is a world-leading and independent supplier of financial technology to marketplaces and clearinghouses. Customers include major exchanges with extreme demands on reliability and performance, such as the Australian Securities Exchange, BM&FBOVESPA, Dubai Gold & Commodities Exchange, Euronext, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand.