By Eleanor Warnock
TOKYO — Nasdaq /zigman2/quotes/205547889/composite NDAQ +0.91% , the world’s largest exchange company, will provide a new trading platform for Japan’s largest derivatives bourse, in a significant deal for a foreign financial-technology operator and a step toward internationalizing Japan’s financial markets.
Nasdaq said it has signed an agreement with Japan Exchange Group Inc. /zigman2/quotes/201068873/delayed JP:8697 +3.60% to provide a new trading platform, real-time market surveillance and pretrade risk-management technology for the group’s derivatives bourse, the Osaka Exchange. The system will begin operations sometime after 2015, according to people familiar with the discussions.
Japan’s exchange operators are trying to bolster the country’s position as a global financial center by attracting more foreign investors and integrating existing exchanges.
“Our technology is used in every part of the world, which makes it easier for international trading firms to connect and feel comfortable with the market,” said Lars Ottersgard, executive vice president and head of market technology at Nasdaq.