Qatar Exchange goes live with Scila Surveillance
(Thomson Reuters ONE) -
Qatar Exchange has successfully taken its new market monitoring system, Scila
Surveillance, into production. The system, delivered by Cinnober, is customized
to the needs of Qatar Exchange (QE) in terms of (a) new alerts to detect
abnormal market behavior and conditions that are specific to the exchange's Rule
Book, (b) integration with the exchange's trading engine, post-trade system and
news feed, and (c) new reports and screen features.
The implementation project was started in March of 2011 when Scila Surveillance
was selected as the preferred solution following a competitive bid involving
multiple international vendors. The project involved a team from QE operations
and IT departments working with the Scila team.
The rollout of the application was achieved in two phases, with an initial
standard release being implemented in August 2011, followed by a fully
customized version that now has been launched.
"The implementation of the Scila Surveillance system is another milestone in the
development of Qatar Exchange. It allows the Exchange to fully monitor the
market, guarantee transparency and fairness in the marketplace, and increase
investors' trust and confidence when trading," said Jassim Bukashisha, IT
director of Qatar Exchange.
The Swedish-based technology supplier Cinnober is the leading independent
provider of marketplace and clearing technology, delivering solutions for
trading, market data distribution, market surveillance, clearing and real-time
risk management. The Scila Surveillance system is utilized by leading trading
venues such as Deutsche Börse, Eurex and Oslo Börs as well as new assertive
initiatives such as Burgundy, Hong Kong Mercantile Exchange and Turquoise
Derivatives.
"Confidence is perhaps the single most important asset for any trading venue. A
modern and effective market surveillance tool is a key component for obtaining
this confidence," said Nils-Robert Persson, Executive Chairman of Cinnober.
"Qatar Exchange has set off on a remarkable journey where they have aggressive
targets while building a marketplace in the region with leading
infrastructure."
Scila offer a rich graphical interface for the surveillance of the market and is
built around three components: real-time display of trade data and related
information in full detail both in tabular and graphical formats; a set of
alerts designed to detect abnormal trading activity on the market in real time;
and a set of reports designed to provide analytical statistics for selected
users and securities.
"We're proud to take part in Qatar Exchange's ongoing project to build one of
the most competitive trading infrastructures in the MENA region," said Mats
Wilhelmsson, COO of Scila. "Our customers rely on Scila for leading surveillance
technology that delivers more than it promises; no one beats us at supplying
innovative and effective solutions with a low total cost of ownership."
For further information, please contact:
Nils-Robert Persson
Executive Chairman,
Cinnober Financial Technology
Tel. +46-(0)70 552 52 28
Mats Wilhelmsson
COO
Scila
Tel. +46-(0)70 361 52 81
Lina Serafini
Marketing Manager
Qatar Exchange
Tel. +974 44333615
About Qatar Exchange:
Established in 1995, the Doha Securities Market (DSM) officially commenced
operations in May 1997. Since then the Exchange has grown to become one of the
leading stock markets in the GCC region and for two consecutive years (2010,
2011), was the best performing stock exchange in the GCC. Following a strategic
partnership agreement between Qatar Holding and NYSE Euronext in June 2009, the
DSM was renamed the Qatar Exchange (QE). QE currently has 42 listed companies
and its market capitalization is over QR457 billion (US$127 billion). The
primary aim of QE is to support Qatar's economy by giving investors a platform
through which they can trade fairly and efficiently. QE also provides the public
with access to market information, ensures correct disclosure of information,
and enforces securities regulations. QE is regulated by the Qatar Financial
Markets Authority. For more information, please visit www.qe.com.qa.
About Cinnober Financial Technology AB
Cinnober provides mission-critical solutions and services to leading trading and
clearing venues. Cinnober's solutions are based on the TRADExpress(TM) Platform
incorporating everything needed for mission-critical solutions in terms of
performance, robustness and flexibility. The portfolio of offerings includes
price discovery and matching, real-time risk management, clearing and
settlement, data distribution and surveillance. Cinnober's customers include
Alpha Trading Systems, Borsa Italiana, BM&FBOVESPA, Burgundy, Chicago Board
Options Exchange, Deutsche Börse, Eurex, Hong Kong Mercantile Exchange, London
Metal Exchange, Markit BOAT, NYSE Liffe, Stock Exchange of Thailand, Qatar
Exchange and Quadriserv. For additional information, please visit
www.cinnober.com.
About Scila AB
Scila provides a surveillance tool built on many years of experience from both
market surveillance and systems design. Scila Surveillance uses modern
technology to give the customer a seamless route from detection of market abuse
to presentable evidence. Scila delivers the future in modern market surveillance
technology by offering the industry the most competitive solution available.
Cinnober owns a minority stake in Scila AB and there is an exclusive sales
agreement between the two companies. For additional information about Scila AB,
please visit www.scila.se.
Press release (pdf):
http://hugin.info/139660/R/1595623/502509.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Cinnober via Thomson Reuters ONE
[HUG#1595623]
Unternehmensinformation / Kurzprofil:
Datum: 20.03.2012 - 10:42 Uhr
Sprache: Deutsch
News-ID 126364
Anzahl Zeichen: 6786
contact information:
Town:
Stockholm
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Qatar Exchange goes live with Scila Surveillance"
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