UK software house Sinara Consultants, a specialist in IT systems for exchanges and their member firms, has been chosen to develop a new Matching system for the London Metal Exchange (LME).
As part of its plans to upgrade its core systems to meet MiFID II requirements, the LME will deploy a new, more flexible Matching system to replace the existing LMEsmart. The matching system developed by Sinara will integrate with both the Trading and Clearing systems at the LME.
Sinara’s Project Director, Phil Bain adds: “We are delighted to be developing this strategically important new system for the LME. The new Matching system will need to be flexible enough to support the LME’s development and growth, as well as the requirements of MiFID II. This project builds on Sinara’s long-standing relationship with the LME who benefit from our in-depth knowledge of their business and IT systems.”
Sinara has designed and delivered many important IT systems for the LME, over the past few years, most recently LMEbullion, a custom-built electronic auction system for platinum and palladium.
“The LME continuously invests in infrastructure and technology to ensure we provide the optimum level of service for our markets. We are pleased to be working with Sinara, a trusted long-term supplier, to enhance the efficiency and flexibility of the LME’s matching platform,” says Stuart Sloan, chief operating officer and head of strategy at the LME.