Dubai Gold & Commodities Exchange deploys Cinnober Scila Surveillance

Source: Cinnober

Dubai Gold & Commodities Exchange, DGCX, has successfully implemented its new market monitoring system, Scila Surveillance, into production.

Scila Surveillance is an integral part of a significant technology infrastructure update at DGCX. Together with Cinnober's platforms for trading, real time clearing and risk management; Scila Surveillance completes the DGCX's technology platform, EOS.

The EOS platform will provide DGCX's growing Member community with superior transaction speeds, more efficient means to access liquidity, higher reliability, enhanced trading flexibility and global connectivity. The upgrade will provide low latency network access, world-class risk-management, surveillance and clearing capabilities.

Commenting on the EOS platform upgrade, Gaurang Desai, COO of DGCX, said: "EOS platform is a re-invention of an already vibrant and successful marketplace. It is aimed to provide a superior user experience for all market participants. The cutting edge technology platform is mandatory and we are delighted to have implemented Cinnober and SCILA systems at this juncture of DGCX growth story."

Scila Surveillance is a multi asset tool from the grounds up, handling all asset classes, e.g. equities; equity derivatives; f/x; bonds; CFD; commodities and commodity derivatives. Some of the main features are integrated case management; flexible replay functionality; an extremely powerful search capacity and a state-of-the art graphical order book. On top of that Scila Surveillance is delivered with a rich alert rule portfolio covering a wide range of scenarios from market abuse to trading rule violations.

Commenting on the successful implementation of the project, Mats Wilhelmsson, COO of Scila, said: "This major upgrade of the exchange's technology infrastructure, will provide DGCX Members with a set of cutting-edge trading/risk-management/clearing and surveillance interfaces, that will support DGCX's leadership role in developing and shaping the regional derivatives market." 

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