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E-invoicing, SCF & E-procurement

OCC updates legacy clearing system with Cinnober

Wednesday 16 January 2019 | 11:06 AM CET

The Options Clearing Corporation has replaced its legacy clearing system with a system that employs Cinnober’s TRADExpress RealTime Clearing.

Norway-based real-time clearing technology provider Cinnober, acquired by Nasdaq, provides trading and clearing technology to marketplaces and clearing houses.

According to The Options Clearing Corporation, the new systems will deliver enhanced functionality to procure and submit data to and from the system for external and internal users, ad-hoc reporting capabilities, expanded new product support capabilities, futures processing, and flexibility in processing clearing member trade agreements. OCC is an equity derivatives clearing organisation and the central counterparty for all US exchange-listed options trades. OCC also clears transactions in OTC options, futures and options on futures, as well as securities lending transactions.

Cinnober’s clients include exchanges such as the Asia Pacific Exchange (APEX), Australian Securities Exchange (ASX), B3, Bitstamp, Dubai Gold & Commodities Exchange (DGCX), Euronext, Japan Exchange Group (JPX), Johannesburg Stock Exchange (JSE), London Metal Exchange (LME) and Stock Exchange of Thailand (SET).

More: Link
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