SET goes live with new securities trading technology from Cinnober
(Thomson Reuters ONE) -
The Stock Exchange of Thailand (SET) and Cinnober have today announced a
successful big-bang migration for the Thai bourse's securities trading
infrastructure. The new securities trading system, called SET CONNECT, went live
on September 3 and is based on Cinnober's high-performance TRADExpress
technology.
The new trading system is also accompanied by new solutions from Cinnober for
market data dissemination as well as market surveillance and index calculations.
These developments follow SET's IT Master Plan, which aims to enhance the
confidence of global investors in the potential of the Thai capital market,
propelling the market onto the international stage.
"This milestone boosts the Thai capital market's competitiveness, which is a
crucial step for us in providing trading services with cutting-edge technology,
and makes it one of the world's most efficient trading platforms," said
Charamporn Jotikasthira, SET President. "This is a result of the mixture of
innovation and world-class technology from Cinnober, and our close cooperation
with our trading community, including broker members, ISVs and market data
vendors."
SET CONNECT offers superior transaction speed to support high-frequency and
algorithmic trading, and provides the use of industry standard interfaces, which
will make it easier to link with other marketplaces to attract further
liquidity. The new securities trading infrastructure covers market and business
expansions in the future both in terms of trading volume and valuation, while
being flexible enough to accommodate new financial products and multi-currency
trading.
Cinnober Financial Technology AB's CEO Javier Tordable, said: "Given its scope
and unprecedented time to market, this comprehensive replacement project with
SET is impressive. Thanks to a great cooperation between Cinnober and SET, it
has been very successful. SET is now taking a lead in the region with its
ambitious IT Master Plan and we're proud to be their partner on this exciting
journey. This is a major step forward and we're looking forward to the fuller
unveiling of functionality in phase two of the project, when derivatives will be
traded on the same platform."
In addition to SET CONNECT, three other systems were included in the delivery
from Cinnober. The new market data system brings more efficiency, fairness and
transparency to disseminating trading information to members and information
service providers. The market surveillance system, based on well-established
Scila Surveillance, improves SET's abilities to instantly and proactively
monitor and detect anomalies with high effectiveness, boosting reliability and
minimizing risks. An innovative Index Engine, jointly developed by Cinnober and
SET, now manages index calculations. It also allows new indexes, calculated and
disseminated in real time, to be developed as market needs evolve.
Cinnober is a major global supplier of 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, Deutsche Börse, London Metal Exchange, LME Clear
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, the Qatar
Exchange, and Dubai Gold & Commodity Exchange.
For further information, please contact:
Fredrik Backlund
Head of Corporate Communications
Cinnober Financial Technology
Tel. +46-(0)73 403 12 39
fredrik.backlund(at)cinnober.com
About Cinnober Financial Technology
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/1638329/527054.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#1638329]
Unternehmensinformation / Kurzprofil:
Datum: 03.09.2012 - 14:47 Uhr
Sprache: Deutsch
News-ID 179690
Anzahl Zeichen: 5567
contact information:
Town:
Stockholm
Kategorie:
Business News
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"SET goes live with new securities trading technology from Cinnober"
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