Cinnober launches Scila Compliance
(Thomson Reuters ONE) -
Set to capture the growing market for trade surveillance at investment banks and
brokers
Cinnober today launches Scila Compliance, a new multi-asset monitoring and trade
surveillance system for investment banks and brokers that builds on its
established success with trade surveillance in the world of exchanges.
With tailored alerts and reports, Scila Compliance provides market participants
an efficient way to ensure they act in accordance with regulations, market rules
and their own internal principles and risk policies. The solution can also be
used for performance measurements, aggregated position monitoring, and as an
extensive statistical and reporting tool.
The new solution offers its users the ability to customize reports using GUI-
based tools as well as write their own alert rules. It also contains
capabilities to monitor HFT applications and get a second opinion on their
performance, as well as functionalities often marketed separately for anti
money-laundering and transaction reporting obligations to authorities.
"We think that a great trade surveillance system should do more than just keep
you out of trouble," says Javier Tordable, CEO of Cinnober. "You should also be
able to leverage the large amount of business data and actually improve your
trading operations. Scila Compliance goes beyond enhancing your management of
financial and regulatory risks. It also provides a corporate dashboard for
benchmarking trading operations and uncovering new business opportunities."
Scila Compliance is easily adapted to rules and reports suited to particular
market environments. Standard and open technologies make the system easy and
cost-efficient to deploy, implement and maintain. It utilizes an in-house
developed framework for implementing protocol adaptors, which facilitates short
implementation times even for complex proprietary protocols, typically 2-3
weeks. Using a common framework for all protocol adaptors also minimizes
operational complexity.
"Our surveillance track record supports our aggressive growth plans for
Cinnober," Tordable continues. "Since it was launched three years ago, Scila has
won almost every competitive procurement for exchange surveillance. It's about
time now that banks also have access to a flexible, quicker and smarter
technology."
Scila Compliance is part of the same suite of tools as Scila Surveillance, a
multi-asset real-time surveillance system for exchanges and marketplaces
launched in 2009. A total of nine markets, including giants such as Deutsche
Börse and Eurex, have chosen Scila Surveillance to monitor trading in
instruments as diverse as equities, futures and options, CFDs, FX, and energy
contracts.
"Our main focus is to take the pain out of compliance for investment banks and
brokers," says Mats Wilhelmsson, COO of Scila. "Our customers have access to a
proven and flexible technology with short time-to-market. Delivery times for
Scila Compliance are measured in weeks, not months. And implementing a change
takes days, not weeks."
Swedish-based Cinnober has a long and imposing track record within the field of
providing mission-critical solutions and services within trading, clearing and
surveillance to leading trading and clearing venues. Customers include major
trading and clearing venues in Europe and North America such as Alpha Exchange,
Chicago Board Options Exchange, Deutsche Börse, London Metal Exchange and NYSE
Liffe. In the past year Cinnober has increased its global presence while signing
new contracts with emerging markets and with players such as BMF&FBOVESPA in
Brazil as well as the Stock Exchange of Thailand and Qatar Exchange.
For further information, please contact:
Javier Tordable
CEO
Cinnober Financial Technology
Tel. +46-(0)70 039 64 24
Mats Wilhelmsson
COO
Scila
Tel. +46-(0)70 361 52 81
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, index calculation, 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 and Quadriserv. For additional information, please visit
www.cinnober.com
About Scila AB
Scila provides surveillance tools built on many years of experience from both
trading surveillance and systems design. The Scila product family uses modern
technology to give the customer a seamless route from detection of market abuse
to presentable evidence. Scila delivers the future in modern trading
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/1609734/511417.pdf
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originality of the information contained therein.
Source: Cinnober via Thomson Reuters ONE
[HUG#1609734]
Unternehmensinformation / Kurzprofil:
Datum: 08.05.2012 - 10:34 Uhr
Sprache: Deutsch
News-ID 143644
Anzahl Zeichen: 6461
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Cinnober launches Scila Compliance"
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