Exchange group Nasdaq OMX and the Osaka Securities Exchange (OSE), Japan’s largest derivatives exchange, have signed a memorandum of understanding with the intent of forming a strategic partnership.
Under the partnership, Nasdaq OMX will deliver services to help OSE develop and grow volumes in both its cash and derivatives markets. The exchanges will also collaborate to define the technology requirements for OSE’s new derivatives trading platform, scheduled for launch in 2010.
Other potential areas of cooperation include dual-listing opportunities and the exchange of market information and staff.
Meanwhile, the Korea Exchange (KRX) has completed the upgrade of its trading and settlement system. The enhanced platform
is scheduled to start operating on March 23 and will be open for member testing from now until the launch date.
The upgrade will double capacity to 40 million quotes a day and cut trade execution latency to less than 0.08 seconds per transaction.
The completion of the upgrade follows a series of enhancements to KRX’s platform. It introduced new electronic disclosure and data warehouse systems in August last year and a new market surveillance system in October.