CMS WebView and Cinnober enter OTC trading technology pact

CMS WebView and Cinnober enter OTC trading technology pact

UK trading technology firm CMS WebView has entered an agreement with Cinnober Financial Technology to manage hosting and administration of CScreen, an over-the-counter trading platform for inter-dealer brokers.

To date, CScreen has gained a following in the OTC equity derivatives market where it is used by around 20 brokers and over 80 client banks for the electronic negotiation and execution of complex financial instruments. The agreement with CMS Webview forms part of a plan to extend the technology to other financial market sectors.

Under the initial terms of the agreement, hosting and administration will be managed by CMS while sales and marketing activity will continue to be handled by the existing CScreen team. At the next stage of development, say the companies in a statement, Cinnober and CMS will "share responsibility for the strategic growth of CScreen in its current marketplace as well as in new areas of business".

Peter Fredriksson, CEO of CScreen, comments: "This agreement will enable us to exploit fully the opportunities to develop the market for CScreen technology."

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