Javier Tordable has been appointed as new CEO of the leading exchange technology provider Cinnober Financial Technology AB. Tordable has extensive experience in international capital markets, having worked with a number of exchanges and trading companies, including Deutsche Börse, Eurex and MTS (London Stock Exchange Group), during his 15–year+ international career.
With a well-known brand built up over ten years and a strong 180-person organization, Cinnober is now poised to jump to the next level. In the coming years Cinnober aims to triple its turnover, broaden its international footprint and take the company public.
“It is with great humility, respect and ambition that I take on the task to further develop a great company into something even greater. I’m attracted by the aggressive targets Cinnober has for the future, in terms of technology and market presence as well as in financial terms,” says Javier Tordable. “The chance of being part of Cinnober and this company’s extraordinary developments is something I’m really honored and excited about.”
Per-Anders Häll-Bedman, who has been Acting CEO of Cinnober since November 2011, will return to his position of Deputy CEO and assume the operational leadership for the drive towards the new ambitious growth objectives.
"Javier stood out as a really interesting candidate early in the recruitment process,” says Nils-Robert Persson, Executive Chairman of Cinnober. “His unique combination of financial and exchange business know-how and international experiences with an entrepreneurial spirit, will be a major strength in enabling us to grow our business even further. We’re proud of being a Swedish-based company, but we’re a truly international organization, employing more than 20 different nationalities and from now on a Spanish CEO.”
In the last one and a half years, Tordable has been leading the efforts to establish PAVE, aiming to be Spain’s first MTF, to attract international traders and increase liquidity in Spanish equities. This venture was put on hold due to the challenging market and harsh financial environment, not least in the Spanish market.
Earlier Tordable spent four years in Frankfurt and London as Senior Advisor to Deutsche Börse and Eurex for new products and market exchange acquisitions. In North America he was involved in the a/c/e cooperation with CBOT, now part of the CME Group. His wide experience in exchange-related startups includes leading roles in establishing the leading Spanish CO2 emissions exchange SENDECO2, as well as MTS Spain, the leading Spanish government debt market owned by the London Stock Exchange Group.
Javier Tordable achieved an Executive MBA in 2004 from IE Business School. He also has an MSc in Banking and Finance from UPF and an Economics degree from Barcelona University. He is currently enrolled in a Global CEO program at Wharton.
Cinnober is the leading independent provider of marketplace and clearing technology, delivering solutions for trading, market data distribution, market surveillance, clearing and real-time risk management. Recently the Brazilian giant BM&FBOVESPA chose Cinnober as its technology partner for a huge multi-asset, post-trade and clearing project.