HSBC integrates Nasdaq Calypso for enhanced ETD clearing capabilities, improving client risk management and operational efficiency.
Quiver AI Summary
HSBC has partnered with Nasdaq to implement Nasdaq Calypso for its exchange-traded derivatives (ETD) clearing platform, enhancing its clearing capabilities for institutional clients across 40 global futures exchanges. Since 2011, HSBC has utilized Nasdaq Calypso for clearing over-the-counter derivatives and will soon expand its use to include US Treasury cash transactions. The platform allows for real-time visibility into clearing activities, collateral, and risk exposure, enabling clients to manage their funding and market risks more effectively through HSBC's Real Clear product suite. Nasdaq emphasizes that the integration of advanced technology in clearing infrastructure is essential for adapting to evolving market needs, including increased demand for tokenized assets and always-on market operations.
Potential Positives
- HSBC has expanded its use of Nasdaq Calypso for its exchange-traded derivatives (ETD) clearing platform, enhancing its infrastructure to support modern trading and risk management needs.
- This partnership positions HSBC to better meet the increasing demand for tokenized assets and collateral in an evolving clearing landscape.
- HSBC Real Clear, integrated with Nasdaq Calypso, provides clients with real-time visibility into their clearing activity, improving their ability to manage collateral and market risk.
Potential Negatives
- Despite the integration of Nasdaq Calypso, there is a cautionary note regarding forward-looking statements, indicating potential risks and uncertainties that could affect future performance.
- The reliance on external technology partners like Nasdaq could raise concerns about operational dependency and the vulnerabilities associated with such partnerships.
- The press release does not provide specific information about how HSBC plans to mitigate the risks associated with the ongoing evolution of markets toward more complex and demanding clearing requirements.
FAQ
What is Nasdaq Calypso?
Nasdaq Calypso is an advanced capital markets and treasury platform used by financial institutions for clearing and risk management.
How does HSBC benefit from Nasdaq Calypso?
HSBC enhances its clearing capabilities, allowing better collateral management and real-time visibility of risk exposure for its clients.
What types of transactions does HSBC clear using Nasdaq Calypso?
HSBC clears exchange-traded derivatives, over-the-counter derivatives, and will extend to US Treasury cash transactions.
Why is real-time visibility important in clearing services?
Real-time visibility helps clients make informed funding and risk decisions, improving operational efficiency and market risk management.
What is the future of clearing according to Nasdaq?
Nasdaq emphasizes the need for flexible, modern systems to adapt to always-on markets and evolving client demands.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$NDAQ Insider Trading Activity
$NDAQ insiders have traded $NDAQ stock on the open market 18 times in the past 6 months. Of those trades, 1 have been purchases and 17 have been sales.
Here’s a breakdown of recent trading of $NDAQ stock by insiders over the last 6 months:
- ADENA T FRIEDMAN (Chair and CEO) sold 113,611 shares for an estimated $9,706,923
- AB INVESTOR purchased 56,782 shares for an estimated $4,882,116
- PC NELSON GRIGGS (Pres. Capital Access Platforms) has made 0 purchases and 5 sales selling 37,116 shares for an estimated $3,504,314.
- BRADLEY J PETERSON (EVP, CIO) has made 0 purchases and 3 sales selling 26,710 shares for an estimated $2,477,452.
- COHEN TAL (Pres. Market Platforms) sold 15,518 shares for an estimated $1,408,258
- JEREMY SKULE (EVP, CSO) has made 0 purchases and 3 sales selling 4,500 shares for an estimated $426,060.
- BRYAN EVERARD SMITH (EVP, CPO) has made 0 purchases and 2 sales selling 4,556 shares for an estimated $408,658.
- MICHELLE LYNN DALY (SVP, Controller & PAO) has made 0 purchases and 2 sales selling 1,323 shares for an estimated $117,512.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$NDAQ Revenue
$NDAQ had revenues of $2.5B in Q2 2026. This is an increase of 21.15% from the same period in the prior year.
You can track NDAQ financials on Quiver Quantitative's NDAQ stock page.
You can access data on NDAQ stock through the Quiver Quantitative API.
$NDAQ Congressional Stock Trading
Members of Congress have traded $NDAQ stock 3 times in the past 6 months. Of those trades, 2 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $NDAQ stock by members of Congress over the last 6 months:
- REPRESENTATIVE APRIL MCCLAIN DELANEY has traded it 3 times. They made 2 purchases worth up to $30,000 on 04/24, 03/31 and 1 sale worth up to $250,000 on 08/25.
To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard. You can access data on congressional stock trades through the Quiver Quantitative API Congress trades endpoint.
$NDAQ Hedge Fund Activity
We have seen 525 institutional investors add shares of $NDAQ stock to their portfolio, and 636 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WELLINGTON MANAGEMENT GROUP LLP removed 5,946,692 shares (-16.4%) from their portfolio in Q2 2026, for an estimated $468,718,263
- MASSACHUSETTS FINANCIAL SERVICES CO /MA/ removed 5,800,900 shares (-20.0%) from their portfolio in Q2 2026, for an estimated $457,226,937
- JPMORGAN CHASE & CO added 3,655,221 shares (+inf%) to their portfolio in Q2 2026, for an estimated $288,104,519
- FARALLON CAPITAL MANAGEMENT LLC removed 2,989,213 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $253,754,291
- JANE STREET GROUP, LLC added 2,863,049 shares (+2779.3%) to their portfolio in Q2 2026, for an estimated $225,665,522
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 2,828,483 shares (+inf%) to their portfolio in Q2 2026, for an estimated $222,941,030
- WINSLOW CAPITAL MANAGEMENT, LLC removed 2,568,537 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $218,043,105
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
$NDAQ Price Targets
Multiple analysts have issued price targets for $NDAQ recently. We have seen 4 analysts offer price targets for $NDAQ in the last 6 months, with a median target of $103.0.
Here are some recent targets:
- Benjamin Budish from Barclays set a target price of $108.0 on 07/09/2026
- Patrick O'Shaughnessy from Raymond James set a target price of $113.0 on 07/09/2026
- Bill Katz from TD Cowen set a target price of $98.0 on 06/22/2026
- Chris Allen from Keefe, Bruyette & Woods set a target price of $97.0 on 04/24/2026
Full Release
LONDON and NEW YORK, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Partnering with Nasdaq, HSBC has adopted Nasdaq Calypso for the bank’s exchange-traded derivatives (ETD) clearing platform, providing HSBC with a fully integrated set of clearing capabilities.
HSBC’s Derivatives Clearing Services already execute ETD transactions for institutional clients across 40 global futures exchanges, and clear ETDs and over-the-counter (OTC) derivatives through the world’s largest central counterparties (CCPs).
Since 2011, HSBC has used Nasdaq Calypso to clear clients’ OTC derivatives, including interest rate, inflation and credit default swaps. HSBC also uses Nasdaq Calypso for repo clearing and, by year-end, will extend its use to US Treasury cash transactions in preparation for mandatory clearing.
Najib Lamhaouar, Global Head of OTC Clearing and ETDs, HSBC, says: “Using Nasdaq Calypso on a multi-product basis is an enabler for cross-margining that enhances our clients’ ability to manage their collateral and market risk within the HSBC Real Clear product suite.* With real-time visibility of clearing activity, margin, collateral and risk exposure, HSBC Real Clear helps clients make more informed funding and risk decisions to operate more efficiently. Our partnership with Nasdaq positions us well for changes in the clearing space, including the move to always-on markets and the increasing demand we are seeing from market participants for tokenised assets and collateral.”
Magnus Haglind, Head of Capital Markets Technology, Nasdaq, says: “The pace of market evolution and technology innovation is placing new demands on clearing infrastructure. As markets move toward an always-on model, firms are seeking modern, streamlined systems that can support always-on risk management, AI adoption and ever greater ecosystem connectivity. With that foundation in place, Nasdaq Calypso offers the flexibility to adapt to new asset classes, markets and client requirements, without adding operational complexity.”
Nasdaq Calypso is an advanced capital markets and treasury platform used by banks, brokers, asset managers, central banks, and other financial institutions to support capital markets and treasury workflows. This expansion of the platform’s ETD clearing capabilities reflects a strategic decision by Nasdaq to reinforce Nasdaq Calypso’s position as a modular and scalable solution, designed to help clients navigate an increasingly complex and rapidly evolving clearing landscape.
*
HSBC Real Clear
gives clients real-time visibility of clearing activity, margin, collateral and risk, helping them stay closer to their positions throughout the day. It offers tools to improve funding, risk and operational decision-making, including margin forecasting, intraday monitoring and scenario analysis. For more information on HSBC Real Clear, please click
here
.
Media contacts
HSBC
London
Adam Durchslag
+44 (0) 7384 794644
[email protected]
Nasdaq
London
Andrew Hughes
+ 44 7443 100896
[email protected]
A
bout HSBC
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,438bn at 30 June 2026, HSBC is one of the world’s largest banking and financial services organisations.
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading technology platform that powers the world’s economies. We architect the world’s most modern markets, power the innovation economy, and build trust in the financial system. We empower economic opportunity by designing and deploying the technology, data, and advanced analytics that enable our clients to capture opportunities, navigate risk, and strengthen resilience. To learn more about the company, technology solutions and career opportunities, visit us on
LinkedIn
, on X
@Nasdaq
, or at
www.nasdaq.com
.
Cautionary Note Regarding Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as “will”, “can” and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq Calypso and its expanded capabilities for the exchange-traded derivatives clearing platform. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq’s control. These risks and uncertainties are detailed in Nasdaq’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 10-K and quarterly reports on Form 10-Q which are available on Nasdaq’s investor relations website at http://ir.nasdaq.com and the SEC’s website at www.sec.gov. Nasdaq undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
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