ASX Implements TMX Group's Razor Risk

Toronto-based TMX Technology Solutions, the technology arm of exchange operator TMX Group, says  its Razor Risk 3.0 system has been implemented by the Australian ASX Group, a multi-asset exchange based in Sydney.

The platform, which calculates margin and capital requirements and conducts liquidity stress tests, is being adopted as part of a broader project to update the ASX's risk management systems ahead of clearing offerings for its equities market beginning next year.

"In conjunction with Razor Risk, ASX has implemented the first important stage of this complex risk management project. Participants can now familiarize themselves with their potential margin calls in the equity market before ASX Clear starts calling margins next June. We look forward to continuing to work with Razor Risk as we enhance ASX Clear's stress testing and intraday margining capabilities," says Paul Jones, general manager for ASX's clearing risk policy.

Razor Risk, an Australian firm, was aquired by TMX in 2011 as part of a broader acquisition strategy focused on technology.