18 December 2017
visit www.ebaday.com

LME signs electronic matching deal with Cinnober

26 November 2002  |  4915 views  |  0 LME signs electronic matching deal with Cinnober

The London Metal Exchange has agreed contract terms with Sweden's Cinnober Financial Technology to design and build a new electronic matching and registration system and take forward the Exchange's electronic trading platform, LME Select.

Both projects are expected to be completed and implemented in the fourth quarter of 2003. The initial order value of the contract is £2 million.

The systems will be custom developed using Cinnober’s Java-based Tradexpress platform.

Simon Heale, LME chief executive says: "We have identified matching and registration as a key business area where we can improve the efficiency and effectiveness of our service to our member firms."

He says that providing the service inhouse will do away with a great deal of complexity associated with the trade types used at the exchange.

"Back office systems, including reporting systems to the LME will become automatic and savings for members will be considerable," says Heale. "The systems will be highly flexible with users being able to use Internet technology in addition to fixed private lines."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Cinnober to build new Amex trading system

Cinnober to build new Amex trading system

07 October 2002  |  6492 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.response.ncr.comvisit www.niceactimize.comvisit www.ebaday.com

Top topics

Most viewed Most shared
satelliteRipple completes XRP Lockup
11157 views comments | 3 tweets | 2 linkedin
Banks tap Ethereum smart contracts for MiFID II complianceBanks tap Ethereum smart contracts for MiF...
9792 views comments | 20 tweets | 21 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
7701 views comments | 19 tweets | 22 linkedin
Nordea takes Open APIs into live productionNordea takes Open APIs into live productio...
7298 views comments | 6 tweets | 26 linkedin
Digital banking startup Loot secures £2.2 million seed roundDigital banking startup Loot secures £...
7238 views comments | 5 tweets | 11 linkedin

Featured job

Competitive base, commission, benefits
London, UK

Find your next job