Scila Surveillance deployed at innovative multi-asset marketplac

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.