Nils-Robert Persson, Executive Chairman, Cinnober
"The performance of our new ultra-speed Index Engine is measured in microseconds without impinging on system availability or scalability."
Stockholm: Cinnober has announced the launch of TRADExpress Index Engine. This latest addition to the suite of products based on Cinnober's TRADExpress platform is intended to enable exchanges and other actors to develop new indexes to fit their markets and attract new business.
"The performance of our new ultra-speed Index Engine is measured in microseconds without impinging on system availability or scalability," says Nils-Robert Persson, Executive Chairman. "This makes it ideal for customers concerned about agility and service levels in an increasingly competitive climate."
The Index Engine is a standalone product that connects to market data feeds or even directly to feeds from different trading venues, and then calculates and disseminates the indexes in real time after each updating event. Multiple plug-ins for calculations and corporate actions are available, such as price weighted index and market cap weighted index. These can be extended or replaced by customized solutions. New plug-ins can be swiftly developed.
"Once again, we seem to be striking the right note at Cinnober, since we are delivering a solution shortly after the market has focused itself on a demand," says Persson. "And our independent status is something we can pass on to our customers, creating market independence for them as well."
TRADExpress Indexing Engine is poised for its first delivery at the Stock Exchange of Thailand (SET), where Cinnober is slated to deliver SET's trading, market data and surveillance systems - all based on the TRADExpress platform. The TRADExpress technical platform provides all the required technical features: low latency, load balancing, partitioning, high availability, audit logging and security.
"The Indexing Engine will help create more business opportunities for SET and its market participants," says Charamporn Jotikasthira, President of the Stock Exchange of Thailand. "It will make it easier to introduce new indexing products and services much easier and faster - on our own."