Cinnober acquires Nomura's Swedish technology development centre

(Thomson Reuters ONE) -


Strengthens investment bank trading knowledge

Cinnober today announces it has agreed to acquire Nomura's internationally
renowned Swedish technology development organization in Umeå. The deal includes
40 specialists in developing equity trading applications and platforms.

Besides an enlarged development capability, the acquisition provides Cinnober
with additional competence in delivering solutions to investment banks and
brokers within execution services as well as expertise in high-volume, low-
latency data warehousing. This takes Cinnober further in its aggressive growth
strategy, which aims to increase sales with a broadened product portfolio.

"This is a great step in our company's development and moves us toward our
vision for growth ahead," says Nils-Robert Persson, Executive Chairman of
Cinnober. "I am very pleased that we're now expanding our family with many
highly skilled developers who - like the team in Stockholm - also have a proven
track record within financial technology for marketplaces, banks and brokers."

"Cinnober has achieved international success over the past decade working from a
single office with almost 200 employees in central Stockholm. Our growth plans
call for getting more people onboard as well," Persson continues. "Umeå is an
innovative city in northern Sweden, with its own university and our new
colleagues here will play an important role in our future expansion."

The technology development office stems from a Swedish financial IT company
called Interbizz, founded in 2000. In 2003 Lehman Brothers acquired the company,
which later was responsible for developing the LSE MTF system Baikal, among
others. Nomura acquired the business in 2008. The main focus for Nomura's Umeå
team has been developing technology applications and platforms for data capture
and analysis in equities trading, giving Nomura's clients detailed analytics in

real time. The team has also delivered platforms in compliance with financial
transparency standards that provide trade reporting, market statistics and
information.

Mark Butterfield, Chief Information Officer, EMEA at Nomura said: "Whilst our
Umea Technology unit has been of huge value to our business, the demands of
building a true global business has led us to determine a new global sourcing
strategy within Technology. A key part of this is focusing our development
effort into our core global centres. We fully believe that the acquisition of
our Umea Technology assets by Cinnober will be a great result for all parties."

The deal includes a transitional support agreement for Nomura's ongoing system
operations developed and managed from the Umeå office. Cinnober has an
impressive track record of providing mission-critical solutions and services
within trading, clearing and surveillance to leading trading and clearing
venues. Portfolio expansions underway also target banks and brokers.

Nomura continues to operate an investment banking and global markets business
out of its registered office in Stockholm.

For further information, please contact:
Nils-Robert Persson
Executive Chairman
Cinnober Financial Technology
Tel. +46-(0)70 552 52 28

Javier Tordable
CEO
Cinnober Financial Technology
Tel. +46-(0)70 039 64 24

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 Exchange, 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



Press release (pdf):
http://hugin.info/139660/R/1613460/513792.pdf



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Source: Cinnober via Thomson Reuters ONE
[HUG#1613460]

Weitere Infos zu dieser Pressemeldung:
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Bereitgestellt von Benutzer: hugin
Datum: 21.05.2012 - 11:30 Uhr
Sprache: Deutsch
News-ID 148336
Anzahl Zeichen: 5121

contact information:
Town:

Stockholm

Kategorie:

Business News

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