Cinnober and Borsa Italiana-part of the London Stock Exchange Group-announce today the extension of the license and support agreement for the real-time market data system DDM Plus for one more year until the end of 2011.
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.
Over the years DDM Plus has been well received by the expanding Italian financial market; Borsa Italiana is now prolonging its maintenance contract with Cinnober for another year in order to continue to deliver the market data service until the migration to the new LSEG IT platform is completed.
The DDM Plus system is based on Cinnober's high-performance TRADExpress platform. The first version of the solution was delivered in 2006, the license and support agreement was last extended in late 2009, and now the two companies have decided for a further extension.
"The Italian installation has managed to match a great increase of volumes over the years. DDM Plus shows again how our flexible technology copes with extremely high throughput and the need to match changing requirements in a fast moving marketplace," said Jan Arpi, CEO of Cinnober.
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 a solid 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.
Earlier this year Cinnober conducted a technical upgrade of the DDM Plus. This successful project met the needs for increased capacity as well as preparations for LSE's decision to implement the SOLA trading platform for the Italian derivatives market.