Nasdaq has secured its first anchor client in Thailand as it looks to expand its Nasdaq Risk Platform into Asia.
The exchange operator has signed a deal with one of the largest institutional brokers in Thailand – Kiatnakin Phatra Securities (KKPS) – and expects the development to act as a launchpad for further deals with banks and broker-dealers in Asia as it looks to expand its platform further in the region.
The deal builds on an existing relationship between the pair, with KKPS already using Nasdaq’s Trade Surveillance technology.
Nasdaq’s platform provides a live view of risk across proprietary and client trading portfolios – new functionality added at the start of Q2 last year to help traders manage extreme market conditions. At the same time the exchange added fixed income securities to the platform including government bonds, corporate bonds and convertible bonds.
The platform aims to deliver new functionality and capabilities to all clients every three weeks, Nasdaq confirmed in a statement.
“Nasdaq is playing a pivotal role at the heart of Thailand’s market modernisation story, supporting the development of a deep and sophisticated ecosystem of capital market participants,” said Magnus Haglind, SVP and head of marketplace technology at Nasdaq.
“Institutional grade technology is a critical enabler of well-functioning markets, which ultimately help drive inclusive growth and prosperity across the wider economy. A key component of that is having a risk platform capable of navigating increasingly complex markets, which also serves as a great competitive advantage, unlocking overnight liquidity, improving capital efficiency, and protecting underlying clients.”