Deutsche Börse taps Cinnober for new market surveillance technology

Deutsche Börse and Cinnober today announced a licensing agreement that foresees the implementation of Cinnober’s state-of-the-art market surveillance technology at both the Deutsche Börse cash market Xetra and the derivatives market Eurex Exchange. The technology called Scila Surveillance will replace Deutsche Börse’s in-house solution. By incorporating Scila into the two exchanges, Deutsche Börse will be able to monitor trading in batch and real-time mode simultaneously and thus further ensure market integrity and safety.

Scila includes several customizations with unique functionalities that are key for Deutsche Börse Group’s 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 individualized 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.

“We 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. Their software Scila in particular has the ability to meet our high capacity demands and requirements,” said Michael Zollweg, Head of Trading Surveillance Office at Deutsche Börse.

“Deutsche Börse is an extremely impressive company that operates some of the world’s leading exchanges,” said Nils-Robert Persson, Executive Chairman of Cinnober. “We are honored 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.”

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.

About Cinnober
Cinnober provides solutions and services to leading trading and clearing venues. All Cinnober's systems are highly customizable while incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. Cinnober’s portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, data distribution and surveillance. Cinnober’s customers include: Alpha Trading Systems, Borsa Italiana, Burgundy, Chicago Board Options Exchange, EDX London, Hong Kong Mercantile Exchange, London Metal Exchange, Markit BOAT, NYSE Liffe and Quadriserv.

About Deutsche Börse

Deutsche Börse Group is one of the world’s leading service providers for the securities industry with a product and service offering for issuers, investors, intermediaries and data vendors. The Group covers the entire process chain from trading, through clearing, to settlement and securities custody. Furthermore, Deutsche Börse offers market data, indices and analyses and is a service provider for the development and operation of IT systems.

Deutsche Börse Group includes Deutsche Börse AG, a DAX company, and its wholly-owned subsidiaries Clearstream International S.A. and Deutsche Börse Systems AG. Furthermore, Deutsche Börse AG holds a 50 percent stake in Eurex Zürich AG. Eurex’s portfolio of markets includes International Securities Exchange (ISE), a leading options exchange as well as the ECNs Eurex Repo and Eurex Bonds, which round out Eurex’s offering for repo and bond trading. Cash market activities and the market data business are run as business areas of Deutsche Börse AG.

The key markets within the Group are the Frankfurt Stock Exchange (Xetra), one of Europe’s largest stock exchanges, and Eurex, one of the largest derivatives exchanges in the world.