Cinnober subsidiary Simplitium delivers new MiFID II service for trading venues
FacilitEx™ helps MTFs and OTFs meet their transparency obligations under the new regulation
Simplitium™, a wholly owned subsidiary of Cinnober and financial services transparency specialist, today announced the delivery of FacilitEx. This is a new service offering that helps trading venues meet their transparency obligations under European regulation MiFID II.
In accordance with MiFID II, trading venues are required to make current pre-trade information available to the public. This includes bid and offer prices, as well as the depth of trading interest at those prices depending on the trading model supported. Venues are also subject to the post-trade reporting obligation which requires firms to report executed trades as close to real time as possible (within one minute for equities and fifteen minutes for non-equities).
The FacilitEx solution has been designed to help trading venues meet these regulatory requirements in a simplified and efficient manner. Developed in direct response to market demand, FacilitEx provides OTFs and MTFs with the infrastructure to meet their MiFID II transparency obligations. The service leverages Simplitium’s extensive experience in providing regulatory transparency solutions and is built upon Cinnober’s leading technology, stability and expertise within the finance industry.
“FacilitEx is a service the industry has asked for and really needs. Simplitium has operated transparency services for the finance industry for over a decade and this offering complements our successful OTC reporting service through TRADEcho,” says Veronica Augustsson, CEO of Cinnober group. “As a company group, we have demonstrated time and time again our ability to deliver efficient solutions that solve industry problems. FacilitEx is yet another example of this and we’re proud to now deliver this offering through Simplitium.”
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FacilitEx is the MiFID II transparency service for Trading Venues (OTFs and MTFs) delivered by Simplitium. The service helps market operators and investment firms operating a Trading Venue meet their MiFID II transparency requirements.
Developed in direct response to market demand, FacilitEx provides OTFs and MTFs with the tools to meet their MiFID II transparency obligations. The service leverages Simplitium’s extensive experience in providing regulatory transparency solutions to deliver a reliable and cost-effective service. For further information, please visit www.simplitium.com/facilitex.
By listening and responding to the market, Simplitium (formerly known as Boat Services) transforms complex challenges into flexible, scalable and secure solutions. Simplitium’s services help firms achieve greater efficiency and transparency in their daily operations, from regulatory compliance and cost management to catastrophe risk management.
As a subsidiary of Cinnober, one of the world’s leading clearing and trading technology providers, Simplitium has the stability and structure to ensure secure and reliable delivery of world class services that cover the entire transaction chain. For further information, please visit www.simplitium.com.
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ 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 Australian Securities Exchange, B3 (former BM&FBOVESPA), Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand.
Cinnober is to broaden its target group by the establishment of subsidiaries with adapted and highly competitive technology offerings. Today three such subsidiaries are established within areas such as trade reporting, client clearing and trade surveillance.
Cinnober is listed on First North in Stockholm, with Avanza as Certified Advisor. For additional information, please visit www.cinnober.com