Cinnober has signed an agreement with a major international exchange group to conduct a comprehensive design study for utilising Cinnober’s technology for real-time clearing for listed derivatives as well as a complete CSD system (Central Security Depository).
The tender process has included a profound evaluation of the available global technology providers and Cinnober has now been uniquely selected to commence work while conducting a full design study that should be completed in December.
Cinnober has unique experience of providing clearing and risk management solutions to tier one exchanges and clearinghouses, such as Brazilian BM&FBOVESPA, the British LME Clear, DGCX in Dubai, and the South African JSE. The latest customer was announced earlier this year when Japan Exchange Group chose Cinnober to deliver real-time clearing for its derivatives market and an additional cross-asset risk monitoring solution for the entire national market for equities, bonds, futures, options, CDS and IRS.
“We’re the inventor of real-time clearing and for the past five years we’ve been the completely dominant supplier to the global community of clearinghouses,” says Veronica Augustsson, CEO of Cinnober. “We will also be strengthening our position and broadening our customer base to include CSD:s. This is a natural step for us as we broaden our offerings along the value chain. CSD technology is as outdated as clearing technology and we are looking forward to revolutionizing this arena too.”
Cinnober is a world-leading independent supplier of financial technology to marketplaces and clearinghouses. Customers include major exchanges with extreme demands on reliability and performance, such as the Australian Securities Exchange, BM&FBOVESPA, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand.