Transparency services provider undergoes rebrand to highlight expansion of services in existing and new industies and to align with other subsidiaries in the Cinnober Group
Boat Services has revealed its new name: Simplitium. The new brand highlights Simplitium’s core values of Transparency, Integrity and Confidentiality.
This year Simplitium celebrates its ten-year anniversary of providing MiFID reporting services for the finance industry. During this time, the company has published over 18 billion quotes, reported over half a billion trades at a value of £50 trillion and achieved up to 90 per cent market share of OTC reporting. Having operated with 100 per cent uptime and with zero incidents, Simplitium distinguishes itself as a service provider that can reliably and securely manage sensitive client data.
Leveraging the experience gained over the past decade, the company has expanded into the insurance sector to deliver efficiency and transparency to the catastrophe risk modelling marketplace. ModEx, the name of Simplitium’s insurance service, formerly known as Boat Oasis, was launched in December 2016 to provide the (re)insurers with more choice and a better understanding of risk.
Simplitium is now expanding into other sectors to solve market problems and provide value-added services that deliver efficiency through transparency.
Our market leading reporting service for MiFID, the formation of TRADEcho in partnership with the London Stock Exchange Group for MiFID II, and the delivery of our insurance platform are key achievements for us. I am excited to see what the next decade has in store for us as we enter this new chapter as Simplitium,” says Jamie Khurshid, CEO of Simplitium.
Simplitium is a fully owned subsidiary of Cinnober, the provider of exchange and clearing technology. The company is an integral part of Cinnober and will help the group diversify its portfolio, enter new markets and broaden its target audience.