Dubai Gold & Commodities Exchange to enhance the exchange infrastructure
through new partnership
Dubai Gold & Commodities Exchange (DGCX) has announced its partnership with leading global trading technology provider, Cinnober Financial Technology. Cinnober will provide a new exchange infrastructure for DGCX that promises to significantly enhance the Exchange’s derivatives trading marketplace. The exchange infrastructure is scheduled to go live in December 2012 following a phased implementation.
One of the key ingredients in the upgraded infrastructure is Scila Surveillance, the current leader in surveillance technology for trading venues. DGCX is the latest of prestigious installations from the Swedish technology company, founded in 2008. Current customers include Deutsche Börse, London Stock Exchange Group (Turquoise Derivatives), Stock Exchange of Thailand, Qatar Exchange and Burgundy.
Scila Surveillance is a multi asset tool from the ground and up, handling all asset types, for example, equities, futures, options, f/x, indices, electricity futures and spots. Some of the main features are integrated case management, flexible replay functionality, an extremely powerful search capacity and a state-of-the art graphical order book. On top of that Scila Surveillance is delivered with a rich alert rule portfolio covering a wide range of scenarios from market abuse to trading rule violations.
The trading and clearing applications are built upon Cinnober’s TRADExpress Platform and will offer exchange members state of the art systems also in those areas. Both TRADExpress and Scila Surveillance are based on Java and the systems has a fully redundant and scalable architecture that delivers market-leading functionality, speed and throughput capacity.
Mats Wilhelmsson, Scila’s COO, is very pleased with this new deal. “We are obviously delighted to have one more customer in the important MENA region. We look forward to being a part of creating the region’s most advanced derivatives marketplace and ensure a fair and orderly market
for DGCX’s members and investors”
About Scila AB Scila is a FinTech company based in Stockholm, Sweden, but we act globally. Scila provides trading surveillance products built on many years of experience from both market surveillance and systems design. Scila systems use modern technology to give the customer a seamless route from detection of market abuse to presentable evidence. Scila delivers the future in modern market surveillance technology by offering trading venues, regulators and market participants the most competitive solution available.
For additional information about Scila AB, please visit www.scila.se