JPX taps Cinnober for updated clearing system

The newly launched JPX clearing system includes real-time clearing and risk technology services.

Japan Exchange Group (JPX) has launched its new clearing system for exchange-traded derivatives (ETD) using Cinnober’s post-trade technology.

The JPX ETD market provides users with risk, account and position management functions and allows the exchange to calculate clients’ risk for ETD in real-time.

JPX worked closely with Cinnober on the production of the system, which is based on Cinnober’s TRADExpress RealTime Clearing and CCP Risk services.

The system also offers greater transparency and allows clients and members to report and view client accounts, and margin requirements individually.

“By launching these new risk and next generation clearing systems we have created a cutting-edge post-trade infrastructure,” said Ryusuke Yokoyama, senior executive officer and CIO at JPX.

“We’re happy to offer improved services to our clearing members and clients, and easier access through standard protocols. We look forward to the next step in the near future in which we will continue the rollout of the CCP Risk solution to the rest of our clearing products.”

The CCP Risk solution has been implemented across JPX clearing venues, for initial margin monitoring, sensitivity calculations, credit and liquidity stress testing and back testing.

“We have been working in a close and productive cooperation with JPX which gives us a strong position for our continuous partnership,” added Veronica Augustsson, CEO of Cinnober.