Cinnober Financial Technology and Scila, two financial systems companies, are close to launching a market surveillance system, Scila Surveillance, designed to enable exchanges and regulators to spot market abuse.
The technology has been developed by Scila, a company in Stockholm founded in early 2008 by four financial IT and market surveillance experts. Cinnober, also based in Stockholm, is a 10 year old company that provides trading systems for AMEX, the Chicago Board Options Exchange, the London Metal Exchange and Turquoise. Cinnober has a 23% stake in Scila.
The two companies announced on February 19 that they had...