Integration testing completed for Quadriserv AQS securities lending platform

Source: Cinnober

Quadriserv and Cinnober announced today that they have completed integration testing and are currently conducting industry-wide testing of Quadriserv's AQS securities lending platform.

This milestone materially advances Quadriserv's objective of launching AQS on schedule in early 2009. As recently announced, Quadriserv and the Options Clearing Corporation ("OCC") are working collaboratively to provide clearinghouse services for all securities lending transactions submitted through AQS, enhancing market structure, transparency and efficiency.

The AQS system is based on an enhanced version of Cinnober's TRADExpress platform, customized to fit Quadriserv's unique functional requirements. Cinnober's globally recognized technology will allow the AQS system to perform automated and anonymous trade matching, and handle large trade volumes on a secure and accessible platform.

Bruce Turner, Quadriserv's Chief Operating Officer, commented, "Cinnober represents the gold-standard in providing solutions to complex financial marketplaces, and we are delighted to continue this partnership as we accelerate development of AQS. Cinnober's TRADExpress platform has been embraced by customers across multiple markets, and its versatility will ensure we are able to adapt, improve and expand the AQS system over time."

Cinnober's Chief Executive Officer Jan Arpi commented, "We are very proud of our involvement in the development of AQS, which will enable traders to borrow and lend equities through a customized technical platform and a well-established infrastructure. By directly facilitating transparency and marketplace efficiencies, AQS represents a milestone development for the securities lending market. We are eager to see its launch in the coming months, and look forward to working with Quadriserv as they expand and improve the AQS platform going forward."

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