Deutsche Boerse and Cinnober announced a licensing agreement for the implementation of Cinnober's market surveillance technology at both the Deutsche Boerse cash market Xetra and the derivatives market Eurex Exchange.
The technology called Scila Surveillance will replace Deutsche Boerse's in-house solution.
By incorporating Scila into the two exchanges, Deutsche Boerse 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 Boerse Group's exchanges, according to a release.
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. All market data is stored and always available, meaning that no offloading of historical data is necessary, the release stated.
"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 Boerse.
"Deutsche Boerse 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."
Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio