LME Clear’s clearing system LMEmercury is supplied by Cinnober, based on TRADExpress RealTime Clearing. Cinnober’s state-of-the-art technology and streamlined operations offer members real-time risk assessments calculated by multiple algorithms, as well as straight-through processing of collateral with full integration with treasury functions. By implementing the RealTime Clearing solution, the metals community now benefits from EMIR-compliant risk management, where stress testing and backtesting results can be calculated ad hoc at any time of day, and end-to-end treasury management capabilities provide a true real-time view of the aggregated cash situation.
Cinnober has supplied key functionality for a number of systems used by the London Metal Exchange for over a decade, including the core electronic trading platform LMEselect. In 2012, after an in-depth procurement process, LME appointed Cinnober as its technology partner for its new clearinghouse.