Cinnober Financial Technology, now part of Nasdaq, is a world-leading supplier of financial technology. Founded in Sweden in 1998, the company has offices in Stockholm, Umeå and London. 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 market surveillance. Cinnober’s customers include the Asia Pacific Exchange, Australian Securities Exchange, B3, Bitstamp, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE, OCC and the Stock Exchange of Thailand. Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is FNCA Sweden AB. For additional information, please visit group.cinnober.com.
We are delighted to maintain the relationship with SIX Swiss Exchange and welcome their remote members on to the TRADEcho platform. This demonstrates our intention to expand TRADEcho services beyond EU jurisdictions to provide our clients with straightforward solutions in an increasingly complex regulatory landscape.
Cinnober finds itself in an expansionary phase in which we are continuing to reap success in our traditional segments: exchanges and clearinghouses. In 2016, we expanded and recruited continuously to meet growing demand. At the same time, we are investing in future growth through expanded target groups, mainly through reporting services, as well as clearing and risk solutions targeted at international banks and brokerages.
In summary, Cinnober is currently in a phase of expansion. We are investing in the new business areas client clearing and trade reporting services, while growing in our traditional segment consisting of exchanges and clearinghouses. The third quarter can be summed up with a clear improvement in profitability and an operating profit of SEK 7.8 million. I view the future with great confidence and optimism – a future in which we build a broader and stronger product portfolio within fintech.
Cinnober is currently in a phase of expansion. We are growing and have taken on large projects, which have impacted profitability negatively. At the same time, we are focusing on broadening the product portfolio and expanding our market through investments in real-time clearing, client clearing and the reporting service for OTC transactions. The fact that our operations now rest on four pillars, all with considerable potential, means that we continue to see a bright future.
We’re the inventor of real-time clearing and for the past five years we’ve been the completely dominant supplier to the global community of clearinghouses. We will also be strengthening our position and broadening our customer base to include CSD:s. This is a natural step for us as we broaden our offerings along the value chain. CSD technology is as outdated as clearing technology and we are looking forward to revolutionizing this arena too.
The real-time clearing of listed derivatives, paired with sophisticated risk monitoring across all asset classes, are important milestones in our next generation clearing system. This will take our services to the next level and strengthen our position in a global and very competitive market.
We’re truly proud of our collaboration with JPX on the modernization of the Japanese post trade markets. The partnership has now been expanded to include a highly-innovative risk management solution, which underlines the great start we’ve made on this journey. Building an improved, safer, and even more efficient Japanese market, using new, cutting-edge technology, will give JPX a solid and global competitive advantage.
We are proud to work with Cinnober as our partner to deliver our next generation clearing system, in which we are making a major strategic investment following a detailed analysis and selection process.
With our combined strengths and complementary services, the partnership offers a one-stop shop to help ease the ever increasing and complex regulatory burden.
This exciting project is a perfect match, as Cinnober’s widely deployed technology complements our business concept in an outstanding way.
As financial markets have become increasingly global, intertwined and complex, awareness of system quality should be more important than ever.
This complements our existing technology capabilities and will primarily be delivered as a service through our subsidiary ‘Boat Services’. Ancoa’s ability to integrate non-standardised data sources into their surveillance platform, including electronic and voice communications as well as news and social media sources, are key to the surveillance needs of the banking segment.
Boat’s primary purpose of ensuring regulatory compliance is as relevant as ever as MiFID II and MiFIR implementation advances.
A major project like this requires a partner with a strong track record across a range of markets. This solution will give ASX greater flexibility and allow us to add functions and services faster. We look forward to building a strong partnership with Cinnober.
This initiative will allow us to boost the competitiveness of our existing and recently launched products, and will be the springboard for expansion into new derivative products and asset classes.
We are delighted that BOAT has enabled MMT reporting and we look forward to working closely with them and other actors going forward.
One of our first priorities was to add MMT functionality in order to strengthen the quality of our offering.
The BOAT platform has huge potential for further development and the demand for a continued service and a broader offering is very high according to discussions we’ve had with customers
We believe the sale of BOAT to Cinnober is in the best interests of customers as it provides a seamless transition for their trading reporting requirements. We have a long-standing relationship with Cinnober and are pleased that they will continue to provide the service
We see BOAT as a perfect fit for us to be able to offer world-class technology and services to the banking and broking communities using this service
We welcome the seamless transition and a continuity of service offering this transaction offers, which enables our mutual members to continue to meet their reporting obligations
The selection of Cinnober provides unique opportunities when it comes to implementing a strong surveillance methodology to multiple financial trading actors.
A comprehensive and flexible system solution is very much decisive for being able to maintain a leading market position
Modern clearing requirements and the evolving regulatory landscape result in significant technology demands for exchanges worldwide.
JSE is an important national exchange with significant influence in the region, and places high demands on modern technology with high quality and true real-time capacity.
Our intention is to create a modern and flexible solution that meets market demands for functionality, reliability and conformance with current and future compliance and regulatory changes.
This is the start of an extremely interesting journey, where Autilla stands for an innovative move to capture the opportunity presented by markets undergoing regulatory change. This evolving landscape means lower entry barriers and a larger role for technology, which is exactly where Cinnober adds value.
We look forward to working together with Azul on further developing Java for financial IT – improving latency and adding features, functionality and add-ons faster to build competitive advantages.
Flexibility, extensibility, performance and cost-efficiency are key system requirements for clearing banks to stay competitive and develop attractive clearing services as the new regulatory landscape evolves
This will be the first centrally cleared equity repo system in the US.
We are proud and happy about strengthening our long cooperation with Quadriserv, and we’re looking forward to offering the repo market a technical solution of the highest quality — and continuing to contribute to confidence in markets in general.
Regulators have been asking the industry to address vulnerabilities in the short-term funding market since the crisis in 2008. We believe our platform will supplement those industry efforts.
This innovation really captures the best of two worlds; it enables extremely low and predictable latency while not compromising the richness and sophistication of system functionality at all.
We constantly improve our TRADExpress platform, and this innovation will have noticeable impact on latency predictability and system speed for our trading, risk and clearing system customers.
Our priority is to implement a market surveillance system that not only meets the monitoring requirements of the SEF new regulations, but also exceeds Javelin’s own internal expectations of high levels of trading integrity to protect its customers.
The new regulations require scalable surveillance technology that can handle the entire monitoring process, from the identification of market abuse to presentable evidence.
It is a great and extremely exciting challenge to take over the reins. Both when it comes to the operations and our objective of acting as a catalyst for building up a financial IT cluster in the region.
It is important to attract and retain talented people and it is therefore particularly pleasing that Jonas, who knows the operations inside out, has chosen to advance within the company. With this, we are also creating better conditions to drive urgent ventures, such as cluster-building and our new trainee program.
This is a fantastic opportunity for me to continue my education at a company like Cinnober.
We aim to make this trainee program the best in our industry, so it feels very inspiring to kick off with such a highly skilled group.
Now that we have sifted our way to top talents, we are as excited as the trainees are about the program. Since we are managing two entry programs a year, we will open the next application period in October, with a start in January.
We see great potential in terms of both our own operations and regional development here in Västerbotten.
Furthermore, we come in contact with many young and talented people who we want to offer something very special. The goal is for the trainee program to be classified as the absolute top program in our industry in the near future.
Vi ser stor potential när det gäller såväl vår egen verksamhet som den regionala utvecklingen i Västerbotten.
Genom den nya satsningen kommer vi också i kontakt med många unga talanger och dessa vill vi erbjuda något väldigt speciellt. Målet är att trainee-utbildningen inom en snar framtid ska klassas som det absoluta topprogrammet i vår bransch.
One of the reasons we are attracting the best talents is that employees have a say in what happens here.
Our ambition is to attract and keep the best talents, and this ranking shows that our company culture is recognized as creating a great place to work, which we are very proud of. As in earlier years, we also have invaluable input in the areas where we can improve even further
We are delighted to have completed the implementation of our new technology infrastructure. The feedback we have received from our Members and the wider trading community has been very encouraging. The new trading technology provides cost effective services and enables Members to place, cancel and modify all their orders quickly, substantially enhancing overall efficiency and reducing risks. DGCX has ambitious growth plans and we are confident that the new platform will support the expected volume growth and the launch of new and innovative products on the Exchange.
The new customized exchange platform, including trading, clearing and surveillance, will provide DGCX Members with a cutting-edge trading interface and state-of-the-art functionalities, and most importantly will enable them to monitor risk in real time. We are proud that our strategic collaboration will support DGCX’s leadership role in developing and shaping the regional derivatives market.
It’s a natural step for Cinnober to widen our market to include large investment banks and brokers, as we see that their technology requirements are very similar to those of exchanges and clearinghouses
