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Thailand's Bourse Partners with Cinnober

Cinnober will deliver trading, market data, and surveillance systems for Thai bourse's equities and derivatives markets

The Stock Exchange of Thailand (SET) signed a deal with Cinnober to deliver several core systems to SET, replacing SET's trading, market data and surveillance systems for both the equities and derivatives markets.

The new systems will start to go live in 2012 for equities, and 2013 for derivatives, according to today’s announcement.

"This is an investment in world-class technology that will not only boost the Thai capital market's efficiency and vitality, but also help bring in more business opportunities for SET and its market participants while helping cut overall operational costs," comments Charamporn Jotikasthira, SET’s President in the release.."Our own internal IT strength combined with Cinnober's cutting-edge technology and expertise will bring SET's competitiveness to a whole new level."

The Stock Exchange of Thailand has set up an aggressive IT Master Plan for the coming years and has conducted an evaluation over the last eight months. With Cinnober's technology, Thai bourse says it can offer superior transaction speed to support high-frequency and algorithmic trading and provide the use of industry standard interfaces which will make it easier to accommodate linkage with other marketplaces to attract further liquidity.

Under the new technology infrastructure to be implemented at the Thai bourse, equities and derivatives trading will be performed on the same platform. It will be based on Cinnober's TRADExpress Trading System, a multi-asset execution system, which, according to the company, delivers market-leading functionality, speed and throughput capacity, which can easily be extended and scaled up on demand.

Cinnober will also provide SET's new market data dissemination system, based on TRADExpress Information Manager, as well as the market surveillance system Scila Surveillance.

Commenting on the partnership with SET, Nils-Robert Persson, Executive Chairman of Cinnober, stated, "This is an important milestone in Cinnober's increased global reach. A trading venue's technology is more important than ever today as speed, performance and flexibility have become essential.”

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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