Stock Exchange of Thailand selects Scila Surveillance

Cinnober to deliver trading, market data, and surveillance systems for Thai bourse’s equities and derivatives markets

The Stock Exchange of Thailand (SET) and Cinnober announce today the formal agreement under which Cinnober will deliver several core systems to SET, replacing SET’s trading, market data and surveillance systems for both the equities and derivatives markets.

The new systems will start to go live in 2012 for equities, and 2013 for derivatives.

“This is an investment in world-class technology that will not only boost the Thai capital market’s efficiency and vitality, but also help bring in more business opportunities for SET and its market participants while helping cut overall operational costs,” says Charamporn Jotikasthira, President of the Stock Exchange of Thailand. “Our own internal IT strength combined with Cinnober’s cutting-edge technology and expertise will bring SET’s competitiveness to a whole new level.”

The Stock Exchange of Thailand has set up an aggressive IT Master Plan for the coming years and has conducted an evaluation over the last eight months. With Cinnober’s technology, Thai bourse can offer superior transaction speed to support high-frequency and algorithmic trading and provide the use of industry standard interfaces which will make it easier to accommodate linkage with other marketplaces to attract further liquidity.

In the new technology infrastructure to be implemented at the Thai bourse, equities and derivatives trading will be performed on the same platform. It will be based on Cinnober’s TRADExpress Trading System, a multi-asset execution system that delivers market-leading functionality, speed and throughput capacity, which can easily be extended and scaled up on demand. Cinnober will also provide SET’s new market data dissemination system, based on TRADExpress Information Manager, as well as the market surveillance system Scila Surveillance.

“We’re glad and very proud to be entering this partnership with SET,” says Nils-Robert Persson, Executive Chairman of Cinnober. “This is an important milestone in Cinnober’s increased global reach. A trading venue’s technology is more important than ever today as speed, performance and flexibility have become essential. Markets everywhere must be able to act quickly on changes and maintain their ability to shape their own destiny. I would say that SET now has created great prospects for this and we’re looking forward to a long and successful relationship with a very exciting marketplace.”