NFEx Markets contracts with Scila for market surveillance

NFEx Markets Ltd, the new London-based market for base metals trading has signed a contract with Scila AB the Stockholm-based fintech company, to implement Scila Surveillance, a market surveillance solution designed to identify insider trading and market manipulation in real time, protecting end investors and strengthening confidence in the financial markets.

Scila provides market surveillance solutions to a wide range of financial industry firms, including exchanges, regulators and trading firms. Exchanges using Scila technology include Deutsche Börse, New York Stock Exchange, London Stock Exchange and a wide range of regional and specialized market places in Europe and globally.

“Swift, in-depth market surveillance is one of the key requirements we have for the NFEx platform,” said Mark Bradley, COO, NFEx Markets.  “After extensive examination of the various solutions on offer, we are pleased to have identified, and contracted with, Scila and look forward to working with them to achieve an efficient implementation of the Scila Surveillance product into our own systems.”

“NFEx Markets is investing in proven technology deployed for over 35 customers since 2008. Scila systems are flexible, cost-effective and come with a large suite of functionality which is used to prevent market abuse and monitor markets in real-time. We look forward to a long partnership with NFEx “, says Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at Scila.

For further information please contact:

Simon Rostron, Rostron Parry Ltd +44 1865 392 093 / +44 7802 292 252

                      simon@rostronparry.com                                                                    for NFEx Markets

Lars Gräns, Head of Sales +46 73 66 33 061
                      lars.grans@scila.se                                                                                                      for Scila AB

About NFEx Markets Ltd

NFEx Markets is being created around the needs of brokers and their customers in the physical metals industry.  The NFEx technology is designed to offer the market’s most competitive and complete platform, helping users to reduce the cost of trading and to comply with the complexity of new regulatory requirements.  NFEx Markets is expected to go live in the first quarter of 2018.  www.nfexmarkets.com.

About Scila AB

Scila is a FinTech company based in Stockholm, Sweden, but we act globally. Scila provides trading surveillance products built on many years of experience from both market surveillance and systems design. Scila systems use modern technology to give the customer a seamless route from detection of market abuse to presentable evidence. Scila delivers the future in modern market surveillance technology by offering trading venues, regulators and market participants the most competitive solution available. For additional information about Scila AB, please visit www.scila.se.