Scila Surveillance deployed at innovative multi-asset marketplace
(Thomson Reuters ONE) -
LMAX launches platform to transform retail financial trading
Scila Surveillance, a leading market surveillance and monitoring solution
marketed by Swedish Cinnober, went live today on a new Multilateral Trading
Facility (MTF): LMAX. Established by Betfair, the world's leading sports betting
exchange, LMAX launched today and is set to transform retail contracts for
difference (CFD) and FX trading.
LMAX will initially allow customers to trade rolling spot FX contracts and CFDs
in equity indices, commodities, bonds and interest rates, with other asset
classes to be added to the platform in due course. LMAX is the first CFD multi-
asset trading venue with central clearing that does not take positions against
customers.
"With this launch, we're bringing some true innovation to the financial market
offering retail access and the possibility to trade as an equal with financial
institutions," said Robin Osmond, CEO of LMAX. "We have a multi-asset offering,
and with Scila Surveillance we only need one surveillance tool to monitor our
entire market. It's a very modern, user-friendly solution that will help us
ensure market integrity at LMAX."
Scila Surveillance is a fully-fledged, Java-based surveillance system provided
by Cinnober to trading venues, regulators and compliance departments. The system
has been implemented at a number of trading venues - spanning from equities to
commodities and derivatives markets, including the Nordic MTF Burgundy, the Hong
Kong Mercantile Exchange, Oslo Børs and EDX London.
"LMAX is a very exciting new MTF with a unique offering to the retail market,
and we're proud to deliver their market surveillance solution," said Jan Arpi,
CEO of Cinnober. "It also emphasizes the strength of our offering. When LMAX is
fully up and running, Scila will cover the whole spectra of instruments
available in financial markets in one and the same marketplace. Together with
the Scila team of senior surveillance professionals and system architects, we
offer something new for market surveillance and compliance professionals: a
flexible and easy-to-use multi-purpose solution with a low total cost of
ownership."
Cinnober provides high-transaction trading and clearing related systems to a
number of leading venues, including Alpha Trading Systems, Burgundy, the Chicago
Board Options Exchange, the London Metal Exchange, Markit BOAT and NYSE Liffe.
For further information, please contact:
Jan Arpi, CEO Mats Wilhelmsson, COO Simon Southgate
Cinnober Scila LMAX
jan.arpi(at)cinnober.com mats.wilhelmsson(at)scila.se simon.southgate(at)lmax.com
Tel. +46 70 860 46 49 Tel. +46 703615281 Tel. +44 7711 670301
About LMAX
LMAX is the first Multilateral Trading Facility (MTF) for contracts for
difference (CFD) and FX trading, and the first to provide centralised clearing.
Customers can trade rolling spot FX contracts and CFDs in equity indices,
commodities, bonds and interest rates. LMAX is client-neutral and does not take
positions against customers. LMAX traders benefit from neutrality, the ability
to place an order directly onto the platform, fast execution, no dealer
acceptance and no re-quotes. High profile institutional liquidity providers
provide pricing on the platform. LMAX was established by Betfair, the world's
leading sports betting exchange, and launched in October 2010. Betfair is the
majority shareholder in the company. LMAX Limited is authorised and regulated by
the Financial Services Authority (firm reference number 509778).
About Cinnober Financial Technology AB
Cinnober provides mission-critical solutions and services to leading trading and
clearing venues. All Cinnober's solutions are base on the TRADExpress(TM)
Platform incorporating everything needed for mission-critical solutions in terms
of performance, robustness and flexibility. Cinnober's portfolio of offerings
include price discovery and matching, real-time risk management, clearing and
settlement, data distribution and surveillance. Cinnober's customers include:
Alpha Trading Systems, Borsa Italiana, Burgundy, Chicago Board Options Exchange,
EDX London, Hong Kong Mercantile Exchange, London Metal Exchange, Markit BOAT,
NYSE Liffe and Quadriserv.
For additional information, please visitwww.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 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 post 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 ()
[HUG#1454828]
Press release (PDF):
http://hugin.info/139660/R/1454828/394976.pdf
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Source: Cinnober via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2010 - 10:15 Uhr
Sprache: Deutsch
News-ID 46114
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contact information:
Town:
Stockholm
Kategorie:
Business News
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"Scila Surveillance deployed at innovative multi-asset marketplace"
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