Signs new seven-year agreement for multi-asset class trading infrastructure
Cinnober Financial Technology, a global independent provider of technology solutions for the finance industry, today announces that the Stock Exchange of Thailand (SET) has signed a new license agreement with Cinnober for a term of seven years. The license covers a multi-asset class trading platform for SET’s equities and derivatives markets, including index calculation and data dissemination functionality, built on Cinnober’s TRADExpress™ technology and the Scila market surveillance system.
SET has operated successfully using the software since September 2012, with a track record of 100% uptime. During this period, the Thai exchange has strengthened its position in the market to become the most liquid equities exchange in the ASEAN region. In addition, derivatives trading volumes and open interest have grown steadily, and the business from foreign investors has increased.
“Thailand’s stock exchange has operated one of the most reliable and robust platforms in the world’s capital markets. We are proactively building platforms offering end-to-end services and seamless experience to investors and intermediaries to cope with the technology disruption and digital revolution in the world’s financial market,” says Dr. Pakorn Peetathawatchai, President of SET. “With Cinnober’s invaluable expertise, this partnership allows us to continuously achieve the top market position in the region while introducing world-class standards and best practices to Thailand’s capital market.”
“We are pleased and proud to further our partnership with SET and support their future growth,” says Peter K. Lenardos, CEO of the Cinnober Group. “Over the past 6 years, SET has successfully realized ambitious goals using Cinnober technology. A key to their growth has been streamlining client connectivity with the SET markets using global standards, while offering stability, speed and performance.”
SET’s single-platform solution for equities and derivatives, called SET CONNECT, is based on Cinnober’s TRADExpress Trading System providing speed, throughput capacity and operational efficiency. By integrating these two previously separated markets, client connectivity was optimized using the global standard FIX, and combination orders introduced across the two markets.
Cinnober is the only independent provider of world-class trading and clearing technology to marketplaces and clearinghouses globally. Cinnober’s customers include the Australian Securities Exchange (ASX), B3, Dubai Gold & Commodities Exchange (DGCX), Euronext, Japan Exchange Group (JPX), the London Metal Exchange (LME), and the Johannesburg Stock Exchange (JSE), among others.
For further information regarding Cinnober, please contact:
Head of Corporate Communications
Cinnober Financial Technology
Tel. +46-73 403 12 39
Cinnober Financial Technology
Tel.+44 (0)203 735 4981
About Cinnober Financial Technology
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance. Cinnober’s customers include the Asia Pacific Exchange, the Australian Securities Exchange, B3, Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand.
Using its extensive experience in financial technology, Cinnober has broadened its reach through the establishment of highly specialized and competitive subsidiaries. Today, three such subsidiaries exist within trade reporting and transparency, post-trade and client clearing and trade surveillance and analytics. For additional information, please visit www.cinnober.com.
Cinnober’s shares are traded on the Nasdaq First North exchange and the company’s Certified Advisor is FNCA. To help the market to assess the value of the deals won by Cinnober, the following definitions have been established. A major deal is one for which the order value over a period of five years is estimated to exceed SEK 100 million. A smaller deal is one for which the order value over a period of five years is estimated to be less than SEK 30 million. A medium-sized deal is one for which the order value over a period of five years is estimated to be in between that of a smaller deal and a major one. In writing moment, the signed agreement mentioned above is considered a medium-sized deal from this perspective.
The Stock Exchange of Thailand was established and began securities trading in 1975. It stands at the center of Thailand’s capital market, and is a thriving and dynamic exchange offering a full range of products, services and trading infrastructure for investors, listed companies and other participants.
SET offers investors the advantages of being a one-stop shop for securities. In addition to equity instruments listed on the SET, investors can choose from the offerings of three sister bourses all of which are part of the SET Group. These are the Market for Alternative Investment (mai) for equities of innovative businesses with high potential growth, Thailand Bond Exchange (TBX), providing trading of corporate and government bonds for both wholesale and retail markets, and Thailand Futures Exchange (TFEX). Further information can be found at www.set.or.th