Athens stock exchange chooses multi-asset surveillance technology from Cinnober
The Hellenic Exchanges — Athens Stock Exchange Group, has selected Cinnober as technology partner for the implementation of its new surveillance system. The multi-asset solution will strengthen the exchanges’ existing technological infrastructure in order to cope with the new European regulatory environment and requirements.
This well-known and well-regarded stock exchange, founded in 1876, has developed into a trading platform for traditional equities and derivatives. It also provides technical trading capacity to other exchanges, such as the Cyprus Stock Exchange. The new surveillance capability will extend to the entire trading platform, and is also capable of being accessed by the supervisory authorities.
“The selection of Cinnober provides unique opportunities when it comes to implementing a strong surveillance methodology to multiple financial trading actors,” says Dimitris Karaiskakis, Chief Operating Officer at Hellenic Exchanges Group. “Following the integration of our cash and derivatives markets into a single trading engine, our ambition is to use advanced surveillance capability that would allow efficient real-time monitoring of all traded instruments, including equities, bonds, ETFs, warrants, futures and options on the same or correlated underlyings.”
Cinnober’s surveillance system, Scila Surveillance, is tailormade for marketplaces and includes extensive multi-asset capabilities. Flexible and easy to use, it is able to handle a variety of instruments with short implementation time and open standards technologies, which means a low total cost of ownership. The surveillance system can be easily customized, as shown by its implementation by Deutsche Börse, Eurex and the Stock Exchange of Thailand, among others.
“We are very pleased to announce the cooperation with the Hellenic Exchanges Group, which is a national exchange with a regional vision,” says Veronica Augustsson, CEO at Cinnober. “New regulations require very flexible and adaptable surveillance technology and we offer a modern and reliable set of tools that can meet rapidly changing needs.”
Cinnober is a world-leading supplier of financial technology to marketplaces and clearinghouses. The client list consists of major global players with extreme demands on reliability and performance, including names such as BM&FBOVESPA, Deutsche Börse, Dubai Gold & Commodities Exchange, the London Metal Exchange, LME Clear, Quadriserv, MarkitSERV and the Stock Exchange of Thailand.
For further information or discussion, please contact:
Head of Corporate Communications
Cinnober Financial Technology
Tel. +46-73 403 12 39
Chief Operating Officer
Hellenic Exchanges Group
Tel. +30 210 3366 142
About Hellenic Exchanges
“HELLENIC EXCHANGES Group” (EXCr.AT) is the operator of the Greek Cash, Derivatives & Bonds Markets and carries out the trade clearing and settlement, registration of securities, provides comprehensive IT solutions to the Greek capital market participants and promotes the development of capital markets culture in the country. Its two subsidiaries, ATHEXClear and Hellenic Central Depository (HCSD), are licensed to operate the post-trading functions.
The Hellenic Exchanges Group has attracted significant capital flows from abroad. Almost 50% of the total Greek market capitalization is owned by international institutional investors, who on average exceed 50% of the trading value activity. 254 companies are listed in the Hellenic Exchanges, with market capitalization of €67bn, daily turnover above €100m and average daily volume at 47m.
For additional information, please visit www.helex.gr
About Cinnober Financial Technology AB
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 surveillance offering is developed by Scila AB. Cinnober’s customers include BM&FBOVESPA, Deutsche Börse, Dubai Gold & Commodities Exchange, Eurex, London Metal Exchange, LME Clear, Markit BOAT, MarkitSERV, NYSE Liffe and Stock Exchange of Thailand. For additional information, please visit www.cinnober.com