The LME Clear shone with the brightest stars at the “FOW International Awards 2015” last night. Partly because Trevor Spanner, the CEO, was awarded the prestigious “Chief Executive of the Year” and, in addition, the clearinghouse was granted “Best new Technology Product — Risk Management”. The latter for their LMEmercury system, based on real-time clearing technology from Cinnober.
“My warmest congratulations to Trevor Spanner and the LME Clear for this great recognition,” says Veronica Augustsson, CEO of Cinnober. “The major investment that LME Clear has made in its own clearinghouse — the most modern in Europe — is setting a new standard, and we at Cinnober are truly proud to be a part of their success story.”
Over the years Cinnober has implemented its TRADExpress RealTime Clearing technology at major financial venues all over the world, such as the Brazilian BM&FBOVESPA, South African JSE, Dubai Gold & Commodities Exchange and — last but not least — the LME Clear in London.
“As the only supplier of real-time clearing solutions, we have had a great lead in this field,” Augustsson continues. “This is also proof that we are attracting attention globally and that the ambition to invest in agile and trustworthy clearing solutions is increasing.”
Cinnober’s TRADExpress RealTime Clearing technology was recently also awarded “Post-Trade Initiative of the Year” at the Financial News Trading & Technology Awards”. The multi-asset solution enables clearinghouses to monitor and manage risk in real time across multiple markets, both OTC and exchange-traded. The solution has proven itself at several high-profile CCPs globally, enabling margin and settlement savings for their clients thanks to netting effects, improved risk management, extreme performance, faster product development capabilities and efficient operations.
The FOW-awards also turned out to be a memorable event for another Cinnober customer. The Stock Exchange of Thailand (SET) and its subsidiary Thai Futures Exchange (TFEX) received one of the most prestigious awards — the “Best Technology Innovation by an Exchange” — for its new multi-asset trading infrastructure, based on the TRADExpress Trading System.