LSEG agrees to power Qatar Stock Exchange for a derivatives market

Rick Steves

“The implementation of this technology will enable QSE and its customers to pave the way for QSE to become the leading financial markets innovator in the region”

Qatar Stock Exchange (QSE) has partnered with London Stock Exchange Group (LSEG) to provide technology for a new trading, clearing, and market surveillance system so that the QSE will leverage the same technology used by LSEG.

The real-time clearing and risk system will enable Qatar Stock Exchange to launch a new derivatives market, a major milestone for the country that is hosting the Football World Cup this year.

LSEG’s technology powers over 25 venues, including SGX

LSEG’s financial markets technology products are used by over 25 financial markets infrastructure operators across the globe, including Johannesburg Stock Exchange, Singapore Exchange, and LSEG.

The partnership will have LSEG providing its trading, clearing and market surveillance technology to QSE, which will replace its existing trading and market surveillance systems and will enable QSE to expand into derivatives trading by adding the clearing house technology.

Based upon LSEG’s financial markets product suite,  which includes trading, market data, data analytics, risk management, market surveillance, clearing, and CSD functionality, QSE will be able to operate a series of products under a common foundation.

All products adhere to a unified architecture and share the same technology framework, data constructs and software engineering methodology.

As a result and once the project is completed, the Qatar Stock Exchange will be powered by LSEG’s market infrastructure that offers high performance, low latency matching; state-of-the-art real-time risk management and CCP capabilities, as well as a market surveillance solution that includes market data visualisation and analytics.

Peter Jessup, Head of Market Infrastructure Business Development, Trading & Banking Solutions, LSEG, said: “We are excited to have several of our products selected by QSE to power their market and clearing house and provide the foundation of QSE’s ongoing growth.”

Tamim Hamad Al-Kawari, CEO of Qatar Stock Exchange, said: “QSE is looking forward to working with LSEG to provide us with industry leading resilience, performance and business capabilities. The implementation of this technology will enable QSE and its customers to pave the way for QSE to become the leading financial markets innovator in the region.”

LSEG keeps on adding new technology solutions to its roster, having announced the upcoming acquisition of Global Data Consortium Inc (GDC), a provider of high-speed electronic digital identity verification that provides global name and address matching capabilities that enable them to accurately source and enhance data from over 300 data sources globally and to deliver high quality identity data in near real-time for over 70 countries.

Its KYC services are currently used within the LSEG Customer and Third-Party Risk business for digital identity verification. In 2020, Refinitiv acquired an 11% stake in 2020. Refinitiv has since been acquired by LSEG. The Transaction is expected to close in H1 2022. Once the deal is completed, the firm will be part of LSEG’s Data & Analytics division.

In February, LSEG announced it will acquire TORA to further enhance the global footprint of LSEG’s Trading & Banking Solutions business, with TORA’s established presence in Asia and North America and operations in Europe.

TORA supports customers trading multiple asset classes across global markets with a number of solutions including an order and execution management system (OEMS) and portfolio management system (PMS) for customers trading equities, fixed income, FX, derivatives and digital assets.

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