The Australian Securities Exchange (ASX) has announced that it has selected Cinnober for a major upgrade to its trading technology. Cinnober’s TRADExpress Trading System will replace ASX’s equities and derivatives systems with a common, multi-currency, multi-asset class solution.
The new ASX trading system, when built on Cinnober’s platform is expected to provide greater technological flexibility and will facilitate cost-efficient operations and fast time-to-market for new products and services.
“Consolidating ASX’s current trading technologies onto a common platform architecture will drive efficiencies and positive synergies for both our customers and the exchange,” says Tim Thurman, Chief Information Officer of ASX. “A major project like this requires a partner with a strong track record across a range of markets. This solution will give ASX greater flexibility and allow us to add functions and services faster. We look forward to building a strong partnership with Cinnober.”
“Winning ASX in fierce competition is a terrific way to kick off the year,” comments Cinnober’s CEO, Veronica Augustsson. “We have demonstrated that our solution is best able to quickly fulfill the needs of ASX, both in terms of functional scope and quality. ASX presents us with yet another challenging technology project at one of the largest exchanges in the world, which we are looking forward to as we build a long and positive relationship.”