Cinnober and Borsa Italiana-part of the London Stock Exchange Group-will conduct an upgrade of DDM Plus, the real-time market data system.
The upgrade order to the Swedish technology provider is a result of LSE's decision to implement the SOLA trading platform also for the Italian derivatives market.
DDM Plus consolidates and disseminates market data from the entire Borsa Italiana, consisting of the share, derivatives, fixed income and certificates markets as well as their indices. European market data vendors and market participants can choose from five different levels of market depth when they subscribe to the data.
The DDM Plus system is based on Cinnober's high-performance TRADExpress platform. The first version of the solution was delivered in 2006 and a license and support agreement was extended in late 2009.
"Yet another example that our solutions have the embedded flexibility to meet future and changing marketplace demands," said Nils-Robert Persson, Executive Chairman of Cinnober. "Our customers rely on us for leading technology that delivers more than promises; no one beats us at supplying effective trading and clearing solutions on plan and budget with a low cost of ownership."
Cinnober is the leading independent provider of marketplace technology; delivering solutions for trading, market data distribution, market surveillance, clearing and real-time risk management. The company has an impeccable track record of supplying solutions to prominent trading venues such as Alpha Trading Systems, Burgundy, the Chicago Board Options Exchange, the London Metal Exchange, Markit BOAT, NYSE Liffe and Turquoise.
Late in 2009 the British derivatives arm of LSE, EDX London, also shifted to the SOLA trading platform, utilized under license from Canadian TMX Group. Cinnober is also the technology provider of the new market surveillance system at EDX London.