Today (April 19) Euronext.liffe announced the purchase of Cinnober's subsidiary CScreen Ltd - the provider of CScreen, a leading price discovery platform for equity derivatives. CScreen is developed by Cinnober and will together with two more systems delivered by Cinnober provide a new and unique wholesale service introduced by Euronext.liffe.
Through the new service Euronext.liffe will offer their customers straight through processing for the first time ever, from pre-trade price discovery to post-trade booking and administration, giving them a flexible and simple way of conducting their wholesale equity derivatives business with reduced cost and operational risk. The new service is scheduled to go live later this year.
Euronext.liffe's new service comprises three components - all delivered by Cinnober:
CScreen - Cinnober's pre-trade price-discovery platform, now owned by Euronext.liffe, where banks and brokers post and respond to 'Indications of Interest' (IOI) in respect of wholesale equity derivatives. From CScreen a secure STP link will enable users to book their transactions via either:
Cleared Service - An on-exchange, administration and clearing service for wholesale transactions
OTC Post Trade Matching Service - An off-exchange post trade matching service offering both affirmation and confirmation for OTC transactions
"We are very proud to be the first external software company to ever be engaged by Euronext.liffe to deliver trading technology and are excited to work together with Euronext.liffe to deliver their new service." Nils-Robert Persson, Chairman of Cinnober said.
Hugh Freedberg Chief Executive of Euronext.liffe, said: "This unique service will offer customers a comprehensive, flexible and cost-effective means of carrying out their wholesale business - something which has not been available before. We are confident that Cinnober is the best technology provider to deliver the systems necessary for this new service. Looking at their advanced technology, extensive experience from development of trading technology and their extremely strong project management methodology, Cinnober is the obvious choice."
Click here to visit Euronext.liffe's web page.
Cinnober - Marketplace Technology
Cinnober Financial Technology AB (Cinnober) is a successful and rapidly growing IT company, developing marketplace technology products for the financial, energy and commodity markets.
Cinnober was founded in 1998 and has since then grown to employ over 80 people. The company has been profitable since day one and therefore has a strong capital base and is well prepared for future development.
Our Product Portfolio
All our products are based on the TRADExpress platform - the heart of our business. The TRADExpress platform provides a technical and functional base for exchange, bank and brokerage firm services. Its core is the on-line trading platform for equities, derivatives and other financial instruments. Various add-on services can be connected to the platform.
Cinnober's TRADExpress product portfolio includes:
- TRADExpress Trading Engine
- TRADExpress Trading Clients
- TRADExpress Trade Manager - for post trade matching and registration
- Electronic broker platform for all OTC markets