Cinnober offers SaaS starter pack for new exchanges
Cinnober has launched a new version of its TradExpress Trading System for exchanges, which will be provided by subscription in the form of software as a service.
Known as Tess, for TradExpress Streamlined Services, the product comprises a fully hosted and managed exchange system with a wide set of add-ons to shape and extend the service. These include Scila Surveillance, the market surveillance system offered by Cinnober’s affiliated company Scila.
Capacity in throughput and the number of trading members can be scaled up on demand, allowing customers to start small and grow quickly. Pricing is based on usage, in terms of capacity level, asset classes and functions. The subscription fee covers both software licence and services, and there are no major start-up costs. Time to market is intended to be a few weeks.
“Tess is ideal for start-up trading venues with...