TORONTO, Nov. 21, 2013 /CNW/ - TMX Group today announced that Razor Risk
Technologies Limited, a subsidiary of TMX Group under the TMX
Technology Solutions brand, has entered into license and services
agreements with NetOTC, a London-based multilateral netting and risk
mitigation platform for managing non-standardized OTC derivative
TMX Technology Solutions has proven software and solutions for risk
management, trading, clearing and surveillance needs. These technology
assets provide mission-critical software in conjunction with consulting
services to virtually every segment of the financial services industry.
Under the terms of these agreements, TMX Technology Solutions will
provide NetOTC with a range of software products, anchored by Razor
Risk™, its enterprise risk management software, as well as integration
and consulting services.
"Following a thorough search across the global industry, we were pleased
to find a partner that could meet our unique vision. TMX Technology
Solutions' breadth of software solutions and integration capabilities
positions us to deliver the NetOTC strategy," said Bob Wigley, Chairman
"We are very pleased that NetOTC has chosen us as their lead technology
partner to help enable them to radically change the way global market
participants handle risk management," said Brenda Hoffman, Chief
Information Officer, Group Head of Information Technology, TMX Group.
"This agreement allows TMX Technology Solutions to leverage a number of
our industry leading software products and services and we are excited
about working with NetOTC."
"Having worked with the TMX Technology Solutions team over several
months, we have been very impressed with their overall offering, their
commitment to the NetOTC venture and significant expertise as a major
infrastructure operator," said Neeraj Sharma, NetOTC CEO. "We look
forward to delivering the platform together."
About TMX Group
TMX Group's key subsidiaries operate cash and derivative markets and
clearinghouses for multiple asset classes including equities, fixed
income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX
Select, Alpha Group, The Canadian Depository for Securities, Montreal
Exchange, Canadian Derivatives Clearing Corporation, Natural Gas
Exchange, BOX Options Exchange, Shorcan, Shorcan Energy Brokers,
Equicom, Razor Risk and other TMX Group companies provide listing
markets, trading markets, clearing facilities, depository services,
data products and other services to the global financial community. TMX
Group is headquartered in Toronto and operates offices across Canada
(Montreal, Calgary and Vancouver), in key U.S. markets (New York,
Houston, Boston and Chicago) as well as in London, Beijing and Sydney.
For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
NetOTC is a new netting and risk mitigation platform being built to
manage non-standardised OTC derivative transactions. The core benefits
arise froma multilateral netting and default management platform
designed to mitigate systemic risk as well as calculate and optimize
the impact of Basel III and initial margin requirements associated with
the new EMIR/Dodd Frank rules. The platform will also deliver a
bi-lateral dispute resolution tool to help institutions meet the new US
and European dispute resolution regulations.
SOURCE: TMX Group Inc.
For further information:
Manager, Communications and Public Affairs
+44 207 016 9225