The Australian Securities Exchange (ASX) is one of the world’s leading exchange groups, offering a full suite of services that includes listing, trading, clearing, and settlement across a wide range of asset classes. ASX is the first major financial market to open each day, and its markets rank consistently in the top five in the world.
With a total market capitalization of around $1.5 trillion, ASX is home to some of the world’s leading resource, finance and technology companies. Its nearly $50 trillion interest rate derivatives market is the largest in APAC and among the largest in the world.
ASX selected Cinnober to carry out a major upgrade of its trading technology. Cinnober’s state-of-the-art TRADExpress Trading System replaced ASX’s equities and derivatives systems with a common multi-currency, multi-asset class solution. The derivatives system was successfully launched in March 2017. The highly scalable solution uses global standard protocols facilitating cost-efficient operations for ASX and its clients, with faster time-to-market for new initiatives.