Major Brazilian clearing project gathering momentum and attention
The ongoing cooperation between BM&FBOVESPA and Cinnober is one of the most comprehensive clearing projects in the history of the industry.
Its aim is to integrate and modernize the post-trade environments across the full range of the Brazilian markets. At the moment integrated market testing is taking place and the final implementation is expected in 2013.
BMF&BOVESPA is one of the largest exchanges globally and continuously comments the cooperation with Cinnober in its monthly IT newsletter, which is distributed to the Brazilian financial market (see attached).
“We love the fact that our Brazilian friends are promoting the solution as well as the partnership with Cinnober towards their customers as well as investors in New York,” says Javier Tordable, CEO of Cinnober. “We’re very pleased with our cooperation and the joint project is running smoothly. This will undoubtedly be the most modern clearing solution worldwide, tailored to the complex needs of one of the largest exchanges in the world.”
About Cinnober Financial Technology AB
Cinnober provides mission-critical solutions and services to leading trading and clearing venues. Cinnober’s solutions are based on the TRADExpress™ Platform incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance. Cinnober’s customers include Alpha Exchange, Borsa Italiana, BM&FBOVESPA, Burgundy, Chicago Board Options Exchange, Deutsche Börse, Dubai Gold & Commodities Exchange, Eurex, Hong Kong Mercantile Exchange, London Metal Exchange, Markit BOAT, NYSE Liffe, Stock Exchange of Thailand and Quadriserv. For additional information, please visit www.cinnober.com