Press release
Cinnober Financial Technology, the fast growing software company for financial, commodity and energy marketplaces, today announced an agreement with the American Stock Exchange® (Amex®) to develop new trading technology for the Amex trading environment, using Cinnober’s TRADExpress platform.
Under the agreement, the Amex’s trading systems will be custom developed leveraging Cinnober’s proprietary TRADExpress platform. TRADExpress is a Java-based scalable framework for the development of applications for financial and commodity trading. The framework handles the connection of external and internal customer groups in a secure and efficient way, exchanging transactions with legacy exchange systems.
“We are pleased and very proud to have been chosen by the Amex to provide their new trading technology,” said Gunnar Lindell, CEO of Cinnober. “We are excited to work with the Amex on developing a system that combines one of the world-leading exchange’s extremely liquid and mature floor trading with all the advantages that an electronic trading system provides. We see the Amex and our other clients as partners, working in close cooperation with them on trying to develop what they expect, on time. We believe this is the only way to build long-lasting relationships.”
“The state-of-the-art trading platform at the American Stock Exchange provides customers with a fast and efficient means of accessing the liquidity offered by Amex specialists and market makers,” said Ravi Apte, chief technology officer at the Amex. “The new systems enhance the existing auction market by automating order interaction and providing fast executions while maintaining superior price discovery and execution prices. We look forward to working with Cinnober’s TRADExpress to enhance our systems even more.”
Notes to editors:
Amex Media Contact:
Jennifer Olegario
212.306.1627
jennifer.olegario@amex.com
Cinnober Contact:
Gunnar Lindell (CEO)
+46-8-503 047 10
gunnar.lindell@cinnober.com
About American Stock Exchange
The American Stock Exchange® (Amex®) is the only primary exchange that offers trading across a full range of equities, options and exchange traded funds (ETFs), including structured products and HOLDRSSM. In addition to its role as a national equities market, the Amex is the pioneer of the ETF, responsible for bringing the first domestic product to market in 1993. Leading the industry in ETF listings, the Amex lists 121 ETFs to date. The Amex is also the second largest options exchange in the U.S., trading options on broad-based and sector indexes as well as domestic and foreign stocks. For more information, please visit www.amex.com.
About Cinnober
Cinnober was founded in 1998 with a vision to develop a flexible and fast platform for financial transactions, using the possibilities that the Internet enables. Since then, the company has grown to employ over 55 people. The company’s major competence is in exchange systems, trading applications and Internet solutions. The company is and has been profitable since day one. Cinnober has a strong capital base and is well prepared for future development. For more information, please visit www.cinnober.com.