Cinnober, a Sweden-based provider of marketplace technology and Borsa Italiana, part of the London Stock Exchange Group, will conduct an upgrade of real-time market data system DDM Plus.
The DDM Plus system is based on Cinnober’s TRADExpress platform. The first version of the solution was delivered in 2006 and a license and support agreement was extended in late 2009. The upgrade order to Cinnober is a result of LSE’s decision to implement the SOLA trading platform also for the Italian derivatives market.
Cinnober claimed that the DDM Plus will consolidate and disseminate market data from the entire Borsa Italiana, consisting of the share, derivatives, fixed income and certificates markets as well as their indices. European market data vendors and market participants can choose from five different levels of market depth when they subscribe to the data.
Nils-Robert Persson, executive chairman of Cinnober, said: “Yet another example that our solutions have the embedded flexibility to meet future and changing marketplace demands. Our customers rely on us for leading technology that delivers more than promises; no one beats us at supplying effective trading and clearing solutions on plan and budget with a low cost of ownership.”