Real-time clearing system

Capital-efficient clearing services

Cinnober’s award-winning TRADExpress™ RealTime Clearing helps clearinghouses meet the ever increasing demands of the post-trade value chain with integrated position keeping, real-time risk and collateral management, as well as settlement, across markets.

By leveraging real-time cross-asset clearing, clearinghouses can offer increasingly competitive and capital-efficient services. The ability to cross margin and net offset client positions reduces collateral requirements, while unified settlement processes enable more efficient cash management.

Risk is monitored and managed in real-time using multiple algorithms for margin calculation and collateral valuation. This enables the trigger of intraday margin calls to help clearinghouses manage exceeded risk limits instantly.

Key features

Multi-asset architecture for clearing of any asset class.
Covering the entire value chain from trade capture to settlement.
Real-time trade, position, and risk management.

Ability to run multiple risk models in parallel for initial and variation margin, such as SPAN* and VaR.
Margin calculations possible down to final investor level.
Integrated margining and collateral management across all asset classes.

Powerful support for stress testing, back testing and what-if simulations.
Capacity to manage millions of accounts under heavy trading conditions.
Resilient architecture with a proven track record.

Clearinghouse integration revolutionises Brazil's financial markets

Margin savings for market participants, improved risk control with real-time processing and more cost-efficient operations. These are some of the benefits resulting from B3’s integration of its four clearinghouses into one entity running on a multi-asset clearing system.

Function

Real-time clearing

KEY FEATURE

Multi-asset class solution offering massive margin savings

MARKETS

Equities, ETFs, bonds, derivatives

Next-generation clearing platform takes JPX to the leading edge

Facing increasing global competition, the Japan Exchange Group (JPX) launched its Grand Design Project to advance the position of its listed derivatives market. The aim was to strengthen JPX’s value proposition by widening the product scope and improve post-trade services. In the beginning of 2018 they went live with a new cutting-edge clearing infrastructure, preparing JPX for a more versatile approach to future challenges.

Function

Real-time clearing

Key feature

Scalable solution enabling product expansion and improved services

Markets

Derivatives

Based on award-winning platform

TRADExpress RealTime Clearing is based on the TRADExpress Platform, which provides some of the world’s most demanding marketplaces with speed and resilience.

*SPAN (Standard Portfolio Analysis of Risk) is a registered trademark of Chicago Mercantile Exchange Inc., used herein under license.

TRADExpress RealTime Clearing

Capital-efficient clearing services

Key features

Clearinghouse integration revolutionises Brazil's financial markets

Next-generation clearing platform takes JPX to the leading edge

Based on award-winning platform

Related reading

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Vaultex to deploy Cinnober trading and clearing technology for new exchange

Abaxx chooses Cinnober trading and clearing technology to power new commodity exchange

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