New Asian marketplace signing for Cinnober’s real-time clearing technology
Today, Cinnober announces that it has been selected by a new Asian marketplace for a sophisticated real-time clearing solution.
“We continue to reap success within clearing and our highly global market,” says Veronica Augustsson, CEO of Cinnober. “There is an ever increasing interest from, and ongoing discussions with, leading exchanges and clearinghouses globally. This interest, as well as our well-proven track record, fosters continuous attention from new ventures and consortiums with a need for our refined post-trade knowledge and modular technology.”
The name of the new venture is remaining confidential as per the client’s request. A customized clearing solution will be delivered under the signed agreement, including licenses and future support, and the contract is considered a mid-sized deal to Cinnober.
Cinnober is a world-leading and independent supplier of financial technology to marketplaces and clearinghouses. Customers include major exchanges with extreme demands on reliability and performance, such as the Australian Securities Exchange, 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.
For further information or discussion, please contact:
Fredrik Backlund
Head of Corporate Communications
Cinnober Financial Technology
Tel. +46-73 403 12 39
fredrik.backlund@cinnober.com
About Cinnober
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 the Australian Securities Exchange, 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. For additional information, please visit www.cinnober.com
Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is Avanza. To help the market to assess the value of the deals won by Cinnober, the following definitions have been established. A major deal is one for which the order value over a period of five years is estimated to exceed SEK 100 million. A smaller deal is one for which the order value over a period of five years is estimated to be less than SEK 30 million. A medium-sized deal is one for which the order value over a period of five years is estimated to be in between that of a smaller deal and a major one. In writing moment, the signed agreement mentioned above is considered a medium-sized deal from this perspective.
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