Nasdaq is launching a Post-Trade Risk service on June 30, 2023.

Nasdaq’s Post-Trade Risk service provides clearing firms with real-time monitoring, alerting, and controls for their activity on the Nasdaq exchange and FINRA/Nasdaq TRF relative to per trade and aggregate trade notional dollar limits as defined by a clearing firm. Nasdaq’s Post-Trade Risk service will offer risk alerts through the WorkX User Interface, emails, and FIX drops.

The Post-Trade Risk service is a re-platform of the ACT Risk Management service on the WorkX technology stack.

The migration of clearing firms and their correspondents to the Post-Trade Risk service will be conducted in tranches, commencing from July 2023. Firms have the option to submit a request to migrate during a specific tranche or, alternatively, they will be assigned a specific tranche.

A firm will be expected to fully cutover from the ACT Risk Management service to the Post-Trade Risk service on their migration date. ACT Risk Management will be retired once all customers migrate to the Post-Trade Risk service.

Firms are encouraged to test the Post-Trade Risk service, which is available in the Nasdaq Test Facility, prior to their migration date. Work Post-Trade Risk testing is available every weekday in UAT free of charge.