Japan Exchange Group (JPX)—one of the world’s largest financial marketplaces—was established in January 2013 via the merger of the Tokyo Stock Exchange Group and the Osaka Securities Exchange. It operates financial instruments exchange markets to provide reliable venues for trading listed securities and derivatives instruments. In addition to providing market infrastructure and market data, JPX also provides clearing and settlement services through a central counterparty, and it conducts trading oversight to maintain the integrity of the markets.
In 2018 JPX went live with two solutions from Cinnober: a real-time clearing system for its exchange-traded derivatives market, and a cross-asset class risk system for all its asset classes, including equities, exchange-traded derivatives, government bonds, interest rate swaps, and credit default swaps.
The new systems strengthen JPX in the competition for international trading participants, with industry best practice functions, automation of manual processes, and transparent risk management.