Baymarkets AB

What Baymarkets AB does

Baymarkets is a Nordic financial technology vendor specializing in clearing technology for central counterparties (CCPs), exchanges, and financial market infrastructure providers. Founded in 2007 by Peter Fredriksson, the company operates from Oslo, Norway with a secondary office in Stockholm, Sweden, and was acquired by Swiss-based SIX Group in November 2025, becoming a wholly-owned subsidiary. The company maintains a small specialist team of 11-50 employees focused on its single core product, the Clara Clearing System.

Clara is a full-service, multi-asset, multi-currency clearing platform supporting commodities, financial markets, digital assets, and both spot and derivative products. The platform features a proprietary Value at Risk (VaR) model using Monte Carlo simulations that analyzes cleared and collateral positions jointly for portfolio-level risk calculation, daily stress testing with configurable scenarios, a flexible account model supporting segregated, non-segregated, omnibus, net, and gross accounts, and standardized APIs (ISO 15022/20022, FIX/FIXML) for integration with marketplaces, banks, CSDs, and clients. Clara is delivered as Docker containers deployable on Kubernetes, either on-premise or in the cloud, and is compliant with IOSCO Principles for Financial Market Infrastructures (PFMI), with deployments approved by major competent authorities.

The company generates revenue through enterprise software licensing of Clara (subscription/recurring model) and professional services for implementation, consulting, and operational support. Its go-to-market is consultative direct enterprise sales with a quote-based pricing model. Named customers include SIX x-clear (which clears for Oslo Exchange, Nasdaq Nordic, and multiple European MTFs), and Abaxx Commodity Exchange (live since June 2024). Strategic delivery alliances include PwC Switzerland, Exberry, and Digital Asset. The company is an Affiliate Member of FEAS, a member of the Association of Futures Markets (AFM), and a Partner of the World Federation of Exchanges (WFE).

Name

Baymarkets AB

Legal name

Baymarkets AS

Website

https://baymarkets.com

Company type

Private

Founded year

2007

Operating status

Acquired

Headcount range

11–50 employees

Short description

Baymarkets AB is a Nordic clearing technology vendor developing Clara, a multi-asset multi-currency clearing platform for central counterparties, exchanges, and trading venues. Acquired by SIX Group in November 2025, the firm serves European CCPs with regulatory-compliant real-time risk, margin, and settlement technology.

Ownership category

akta.pro rank

Product category

Post-Trade Clearing Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Software Publishers (5132)

SIC

Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Clearing & Settlement Operations (Post-Trade) (FSACALAC)

akta.pro secondary industry

Clearing & Settlement for SFTs (CCP/Agent Clearing) (FSACAIAG)

Keywords

• Clearing technology
• Central counterparty software
• Risk management systems
• Multi-asset clearing
• Post-trade infrastructure

Headquarters

HQ city

Stockholm

HQ country

Sweden

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Licensing/Subscription: Baymarkets generates revenue through licensing its Clara Clearing System to CCPs, exchanges, and financial market infrastructure providers. The software is sold as enterprise licenses with ongoing maintenance and support. Post-acquisition by SIX Group, this operates as a subsidiary providing technology to SIX's clearing operations.
2. Professional Services: Implementation, consulting, and operational services are provided, particularly through the strategic alliance with PwC Switzerland. This includes project management, rulebook creation, regulatory applications, and operational routine services.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Baymarkets develops and licenses the Clara Clearing System, a full-service, multi-asset, multi-currency clearing platform for central counterparties (CCPs), exchanges and trading venues. It delivers real-time clearing, risk and settlement functionality across commodities, financial markets, digital assets and both spot and derivative products, supported by advanced VaR risk modelling, stress testing and a flexible account model. Deployment is flexible, with cloud-ready Docker/Kubernetes architecture supporting on-premise or cloud environments.

Product overview

Baymarkets offers a single unified clearing platform called Clara. Clara is a full-service, multi-asset, multi-currency clearing system that serves as the core product offering. The platform supports commodities, financial markets, digital assets, and both spot and derivative products. Key capabilities include a modern VaR risk model using Monte Carlo simulations, feature-rich stress testing with daily scenario runs, flexible account models supporting segregated and non-segregated accounts, and standardised APIs for integration with marketplaces, banks, CSDs, and clients. Clara can be deployed as Docker containers on Kubernetes environments either on-premise or in the cloud.

Differentiator

Problem solved

Functional benefit

Brands

• Clara Clearing System: Full-service multi-asset, multi-currency clearing system developed and owned by Baymarkets. Features real-time clearing, VaR risk model, stress testing, and standardized APIs for integration with marketplaces, banks, CSDs, and clients.

Products and services

• Clara Clearing System

Quantifiable outcome

• Clara handled almost double previous volumes with no drop in performance during recent turbulent markets
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature11 records

Partnerships

Seven partnerships are on record, tiered core, strategic and minor.

• Abaxx Commodity Exchange and ClearinghousecoreTechnology or Integration · 28 June 2024Abaxx went live on June 28, 2024 using Baymarkets' Clara Clearing system for physically-deliverable LNG and carbon futures contracts. Baymarkets provides clearing technology for Abaxx's exchange-traded products including LNG, carbon and nickel sulphate futures. Abaxx selected Baymarkets for ease and speed of service implementation, seamless integration with existing infrastructure, and considerable service flexibility.
• ExberrystrategicTechnology or Integration · 11 February 2021Exberry and Baymarkets partnered to add clearing to their end-to-end digital asset exchange platform. Baymarkets' Clara Clearing System integrates with Exberry's matching engine and Digital Asset's Daml platform to provide comprehensive exchange infrastructure including registry, custody, trading, matching, and clearing services for digital assets.
• Digital AssetstrategicTechnology or Integration · 11 February 2021Digital Asset (creators of Daml shared ledger development framework) partnered with Baymarkets to add clearing to end-to-end digital asset exchange platforms. Integration of Baymarkets' Clara with Digital Asset's project:DABL enables CSD and registry functions including tokenization of assets, onboarding and management of users, and automatic settlement of trades.
• PwC SwitzerlandstrategicImplementation/ SI/ Consulting Partner · 29 April 2020PwC Switzerland and Baymarkets announced a strategic alliance to deliver global post-trade and clearing solutions. The partnership combines Baymarkets' Clara clearing platform with PwC's expertise in project management, rulebook creation, regulatory applications, and operational services. The alliance also explores digital and crypto market opportunities.
• Federation of Euro Asian Stock Exchanges (FEAS)minorOthersBaymarkets is an Affiliate Member of FEAS (Federation of Euro Asian Stock Exchanges).
• Association of Futures Markets (AFM)minorOthersBaymarkets is a member of the Association of Futures Markets (AFM).
• World Federation of Exchanges (WFE)minorOthersBaymarkets has been a Partner of WFE and sponsored IOMA 2019 (WFE's 36th Clearing & Derivatives conference).

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Murex: Murex provides the MX.3 platform for trading, risk, and post-trade processing across capital markets, including clearing and collateral management for derivatives and securities financing. Comparable as a direct peer offering enterprise clearing and risk technology to exchanges, CCPs, and large financial institutions.
• AcadiaSoft: AcadiaSoft offers derivatives clearing and collateral management infrastructure, including industry-wide workflows for margin processing and CCP connectivity. Comparable as a direct peer in clearing technology with overlapping buyer base of CCPs and large clearing members.
• Pirum: Pirum provides post-trade connectivity, collateral, and securities financing infrastructure including CCP connectivity services. Comparable as a direct peer in post-trade technology for securities lending, repo, and CCP-related workflows.
• Traiana: Traiana provides post-trade processing, risk, and netting infrastructure for FX, derivatives, and securities financing transactions. Comparable as a direct peer in post-trade and clearing-adjacent infrastructure serving exchanges and market participants.

Emerging players

• CQG: CQG provides market data, trading, and order/risk management infrastructure used by exchanges, brokers, and clearing firms including Abaxx. Comparable as an emerging player in exchange-adjacent technology that integrates with Clara deployments.
• Eventus: Eventus provides trade surveillance and market risk technology adopted by exchanges and clearing houses including Abaxx alongside Baymarkets. Comparable as an emerging player whose trade surveillance product integrates with Clara at shared customers.
• Trading Technologies (TT): TT provides professional trading technology and order/risk management infrastructure adopted by exchanges, clearing firms, and buy-side firms. Comparable as an adjacent trading-technology peer integrated at Abaxx alongside Clara's clearing layer.

Broad incumbents

• ION Group: ION provides Calypso and other capital markets post-trade platforms used by banks, clearing houses, and exchanges globally. Comparable as a broad incumbent offering clearing, collateral, and risk-management software that overlaps with Clara's positioning in the CCP and post-trade ecosystem.
• FIS (Fidelity National Information Services): FIS supplies post-trade and securities processing infrastructure to exchanges, CCPs, and market participants through its Capital Markets software business. Comparable as a broad incumbent offering clearing and settlement-adjacent technology with similar enterprise clients to Clara.
• Broadridge Financial Solutions: Broadridge provides post-trade, securities processing, and trading infrastructure (including legacy Itiviti) to exchanges, CCPs, and banks globally. Comparable as a broad incumbent whose post-trade and clearing-adjacent capabilities compete for similar RFPs to Clara.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/baymarkets
• LinkedInlinkedin.com/company/baymarkets

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Baymarkets AB