OM Group, the trading technology provider that also owns and operates Stockholmbörsen, has signed an agreement with Sanford, an Australian online financial services group, paving the way for development of a back-office and third-party clearing (TPC) service for Australian brokers.

The TPC service will cover all the main instrument classes, including equities, fixed interest, futures and other derivatives. It will be based on Sanford's Plato II application for equities, a web-based order, settlement, clearing and allocation transaction system established for the Australian market, and OM's Finess back-office application for all other instruments.