Deutsche B枚rse taps Cinnober
26 January 2011 Frankfurt
Image: Shutterstock
Deutsche B枚rse and Cinnober have announced a licensing agreement that foresees the implementation of Cinnober鈥檚 state-of-the-art market surveillance technology at both the Deutsche B枚rse cash market Xetra and the derivatives market Eurex Exchange.
The technology, called Scila Surveillance, will replace Deutsche B枚rse鈥檚 in-house solution. By incorporating Scila into the two exchanges, Deutsche B枚rse will be able to monitor trading in batch and real-time mode simultaneously and thus further ensure market integrity and safety.
Scila includes several customisations with unique functionalities that are key for Deutsche B枚rse Group鈥檚 exchanges. First, it allows a market replay also in a graphical manner as well as a re-run of historical market situations; and secondly it enables a cross-border monitoring of Xetra and Eurex.
Additionally, exchange supervisory authorities will receive individualised reports of market activity much quicker. Scila will be able to handle more than 100,000 transactions per second; this rate can be increased if necessary. Further, all market data is stored and always available, no offloading of historical data is necessary anymore.
鈥淲e conducted extensive analysis of our market monitoring needs as part of our ongoing commitment to fulfill our regulatory reporting requirements. Cinnober has a stellar reputation and proven track record in providing leading technology solutions in this field. Its software Scila in particular has the ability to meet our high capacity demands and requirements,鈥� said Michael Zollweg, head of trading surveillance office at Deutsche B枚rse.
鈥淒eutsche B枚rse is an extremely impressive company that operates some of the world鈥檚 leading exchanges,鈥� said Nils-Robert Persson, executive chairman of Cinnober. 鈥淲e are honoured to deliver our technology and the fact that they have chosen Scila Surveillance for these large and important markets is a great testament of its competitiveness.鈥�
Scila Surveillance is a turnkey high-transaction solution offering marketplaces, regulators and compliance departments a seamless route from detection of market abuse to presentable evidence. It was launched in 2009 and has been chosen by numerous marketplaces for equities, commodities, derivatives, FX, and CFDs.
The technology, called Scila Surveillance, will replace Deutsche B枚rse鈥檚 in-house solution. By incorporating Scila into the two exchanges, Deutsche B枚rse will be able to monitor trading in batch and real-time mode simultaneously and thus further ensure market integrity and safety.
Scila includes several customisations with unique functionalities that are key for Deutsche B枚rse Group鈥檚 exchanges. First, it allows a market replay also in a graphical manner as well as a re-run of historical market situations; and secondly it enables a cross-border monitoring of Xetra and Eurex.
Additionally, exchange supervisory authorities will receive individualised reports of market activity much quicker. Scila will be able to handle more than 100,000 transactions per second; this rate can be increased if necessary. Further, all market data is stored and always available, no offloading of historical data is necessary anymore.
鈥淲e conducted extensive analysis of our market monitoring needs as part of our ongoing commitment to fulfill our regulatory reporting requirements. Cinnober has a stellar reputation and proven track record in providing leading technology solutions in this field. Its software Scila in particular has the ability to meet our high capacity demands and requirements,鈥� said Michael Zollweg, head of trading surveillance office at Deutsche B枚rse.
鈥淒eutsche B枚rse is an extremely impressive company that operates some of the world鈥檚 leading exchanges,鈥� said Nils-Robert Persson, executive chairman of Cinnober. 鈥淲e are honoured to deliver our technology and the fact that they have chosen Scila Surveillance for these large and important markets is a great testament of its competitiveness.鈥�
Scila Surveillance is a turnkey high-transaction solution offering marketplaces, regulators and compliance departments a seamless route from detection of market abuse to presentable evidence. It was launched in 2009 and has been chosen by numerous marketplaces for equities, commodities, derivatives, FX, and CFDs.
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