Newsletter October 2007

Cinnober Signs Contract with Turquoise

Cinnober and Turquoise have entered into an agreement for delivery of the Turquoise trading platform. The partnership also covers the operation and hosting services. Turquoise is the Multi-lateral Trading Facility (MTF) being set up by leading European investment banks.

Turquoise simultaneously announced both the appointment of Eli Lederman as its Chief Executive Officer and that two additional investment banks, BNP Paribas and Société Générale Corporate & Investment Banking have joined the Consortium, bringing the total number of members to nine.

The decision to select Cinnober came after an in-depth review of a wide range of possible suppliers. Cinnober’s TRADExpress technology best matched Turquoise requirements for a state of the art, functionally rich solution with exceptional reliability and low latency.

Turquoise will offer an innovative hybrid trading facility bringing together a traditional transparent order book – which will have the priority – and a hidden order book or “dark pool” within the same matching engine and order book.

Jan Arpi, CEO of Cinnober said: “The competition for this assignment has been fierce and delivery demands are very high, so I am delighted that Cinnober came out as Turquoise’s selected technology partner. Together with the similarly innovative BOAT project, this further strengthens our position as a leading independent technology provider to marketplaces.”

The nine investment banks of the Turquoise consortium are BNP Paribas, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, Merrill Lynch, Morgan Stanley, Société Générale Corporate & Investment Banking and UBS.

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About Cinnober

Cinnober provides mission-critical systems to a number of leading financial enterprises, including Alpha Trading Systems, The American Stock Exchange (AMEX), BOAT, The Chicago Board Options Exchange, Liffe NYSE Euronext, The London Metal Exchange, Borsa Italiana, and The Turquoise Consortium.

Cinnober’s products are highly customizable and based on TRADExpress, a scalable, high-performance, low-latency platform for transaction processing. TRADExpress is 100% Java-based, enabling solutions that are flexible, as well as hardware- and database-independent.

Contact Information

For more information, or if you want somebody else to receive this newsletter please contact Anna Hallgren.

Cinnober Financial Technology AB
Industrigatan 2
SE-112 46 Stockholm, Sweden
www.cinnober.com
Phone: +46 8 503 047 00
Fax: +46 8 503 047 01