Cinnober delivers Scila Surveillance to EU pilot project
(Thomson Reuters ONE) -
Multi-purpose market monitoring system Scila Surveillance has been selected for
an EU pilot project on monitoring wholesale energy markets. The findings of the
pilot project will feed into an enhanced EU wide framework for the supervision
of energy markets.
The "Energy Trade Data Reporting Scheme" project is coordinated by the Financial
Services Working Group (FIS WG) of the European Energy Regulators (ERGEG/CEER)
and managed and supported by the Austrian energy regulatory authority E-Control.
Johannes Kindler, Vice-Chairman of Bundesnetzagentur, the German regulatory
authority, and Chairman of the European Energy Regulators' FIS WG said: "The
pilot project will be the cornerstone to develop guidelines and binding rules on
transaction reporting and detecting market misconduct for European Energy
Regulators in 2011."
Within the pilot, Scila Surveillance will import and analyze historical trade
data from energy exchanges, brokers and traders selected for the project.
European market liberalization and integration has lead to an increase of
activities in electricity and gas trading and the number of exchanges and other
trading places for energy and related products in Europe has grown substantially
over the last decade.
The EU Commission is now planning an enhanced, harmonized framework for the
supervision of traded energy markets, to develop market transparency and ensure
market integrity.
Objectives of this pilot project are to demonstrate the feasibility of an
efficient and cost effective standardized trade data collection, storage and
monitoring scheme and the development of a concept and representative examples
for the analysis of trade data.
Walter Boltz, CEO of E-Control: "Finding a competent system was critical for
this pilot project, which includes consolidation and analysis of trading in both
spot and futures energy contracts. We chose Scila Surveillance since it has an
excellent track record from other markets. Moreover it offers superior usability
and flexibility to in short time adapt to the specific needs connected to the
monitoring of energy markets."
"We're proud to be involved in this project that ultimately aims at securing a
well-functioning European energy market", said Jan Arpi, CEO of Cinnober. "And
we are happy that Scila Surveillance has proved its capabilities in yet another
market, demonstrating its great flexibility as a multi-asset surveillance
system."
Scila Surveillance was launched in 2009 and has already been implemented at
seven marketplaces for the monitoring of trading in equities, commodities,
derivatives, FX, CFDs, and now energy contracts.
For further information, please contact:
Jan Arpi
CEO, Cinnober Financial Technology AB
Tel. +46 70 860 46 49
Mats Wilhelmsson
COO, Scila AB
Tel. +46 70 361 52 81
About Cinnober Financial Technology AB
Cinnober provides mission-critical solutions and services to leading trading and
clearing venues. All Cinnober's solutions are based 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 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 visitwww.scila.se
About CEER and ERGEG
The Council of European Energy Regulators (CEER) is the body through which
Europe's national energy regulators voluntarily cooperate. The European
Regulators Group for Electricity and Gas (ERGEG) is the European Commission's
formal advisory group of energy regulators on internal energy market issues in
Europe. Seewww.energy-regulators.eu/.
The European Regulators' Group for Electricity and Gas (ERGEG) has already
previously been engaged in the discussions on how to secure market integrity in
energy trading. ERGEG and the Committee of European Securities Regulators (CESR)
elaborated advice to the European Commission on how to foster fair electricity
and gas trading during 2008. The proposals (on record-keeping, transparency and
exchange of information as well as on market abuse) seek to promote transparency
and market integrity in energy trading and recommend a sector specific regime
for electricity and gas trading.
For the full set of the ERGEG/CESR advice see: http://www.energy-
regulators.eu/portal/page/portal/
EER_HOME/EER_CONSULT/CLOSED%20PUBLIC%20CONSULTATIONS/CROSS_SECTORAL/Financial%20
Services
Press release (PDF):
http://hugin.info/139660/R/1484989/420156.pdf
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originality of the information contained therein.
Source: Cinnober via Thomson Reuters ONE
[HUG#1484989]
Unternehmensinformation / Kurzprofil:
Datum: 03.02.2011 - 09:43 Uhr
Sprache: Deutsch
News-ID 51036
Anzahl Zeichen: 6637
contact information:
Town:
Stockholm
Kategorie:
Business News
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