Cicada Appoints Managing Director for MarketPrizm

London - 30 July 2008

Cicada, a leader in data management, compliance and trading infrastructure technologies, has announced the addition of Nicolas Lévy to its executive team. Nicolas has joined as Managing Director, responsible for development and expansion of the company’s MarketPrizm™ business line.

Leveraging its extensive experience as a market data software platform provider to leading stock and derivatives exchanges, Cicada has developed MarketPrizm as a suite of services to help buy- and sell-side firms address the growing costs and challenges associated with algo trading in Europe since the introduction of MiFID and increased market fragmentation.

Delivered as an ASP, MarketPrizm is an innovation that enables firms of all sizes to conduct algo trading and achieve best execution in the European marketplace.

Prior to Cicada, Mr. Lévy was CEO of GL Settle (a subsidiary of GL Trade Group), where he established a new profit center business and was instrumental in the company’s rapid organic and acquisition-driven growth.

On joining Cicada, he said, “Dealing with a growing number of trading platforms in a fast moving environment creates new challenges for sell- and buy-side firms, which are now facing the high costs of setting up and maintaining the necessary data and connectivity infrastructure. MarketPrizm changes the game and makes access to these markets cost effective and flexible.”

MarketPrizm provides a full-featured algo trading and technology infrastructure solution. Delivering it as an ASP service, Cicada conducts the installation, monitoring and maintenance of the entire trading infrastructure, freeing customers of the cost and overhead normally required to maintain the required hardware, software, data feeds and network connectivity.

The service provides low latency market data and order book information from all of the markets on which the customer trades, optimized for use with the customer’s algorithms. It provides a range of options for hosting at a trading venue, including the ability to host custom algorithms or use a set of existing algorithms that enable the customer to pursue a full range of trading and order routing strategies.

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