Cinnober Financial Technology, leading provider of solutions for trading and clearing venues, has engaged Michael Grecoff as Head of Sales for its recently launched trade monitoring service Scila Compliance.
Scila Compliance was launched in May, as an independent multi-asset monitoring and trade surveillance system, primarily aimed at major investment banks and brokerages. The concept is an evolution of the highly successful Scila Surveillance system, designed for market operators and regulators.
"It will be very exciting to take on and develop the Scila brand in market surveillance," says Grecoff. "As well being initiated in the technology industry, I have had good opportunities to study Cinnober’s success with Scila Surveillance. So receiving the opportunity to be a part of the successful Scila concept felt like a natural step to take."
Prior to joining Cinnober Grecoff was the Head of Sales for SMARTS Broker products in Asia for NASDAQ OMX. His experience includes managing the surveillance team at the Autorité des marches financiers in Quebec (AMF) and surveillance team for the regulatory authority of Canada’s TSX Venture exchange (RS).
“I feel very pleased with the recruitment, as I think it will be an excellent solution for Cinnober and the development of the Scila brand”, says Veronica Augustsson, Head of Sales for Cinnober. “With his nearly 20 years of experience at various levels in the securities industry, including compliance and market regulation, Michael has the industry knowledge necessary to take this concept to the next level.”
Scila Compliance is the latest addition to the Scila-family. It offers a fast and flexible solution that allows users to efficiently ascertain whether they are acting in accordance with applicable trading rules, securities regulations and anti-money laundering laws. The service can be implemented centrally in the trading flow or delivered through the cloud as a service. Scila can also be used for business development purposes, monitoring of algorithmic trading, and includes functions allowing users to meet official disclosure requirements.