Baymarkets: History of Clara CCP System

Monday, 23 May 2022


  • Developed in-house for the Norwegian Equity market in 2010 based on best market practice for Equity CCP’s in Europe.
  • Extended with a separate multi product risk module in 2012 + amendments in order to fulfill new regulatory requirements (EMIR).
  • Extended to support the Norwegian derivative market including cross border clearing in 2014.
  • Extended to include multi-market (Nasdaq Nordic) and multi-currency settlement in 2016.

Starting 2010, Clara was developed from scratch, based on a long history from clearing system architecture and development capturing a modular design that supports multiple asset classes and product types.

Key Capabilities

Supported market types

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