Cinnober Financial Technology

Market Cap 1,783.3M

Cinnober is fundamentally a software company with about 65 percent recurring revenues. The company supplies mainly clearing and trading systems, with some of the world's largest exchanges among its customers. Right now Cinnober is advantageously positioned for the regulatory consequences of the Markets in Financial Instruments Directive (MiFID) in Europe, the new MiFID II regulatory framework, which is expected to enter into force in 2018, and the Dodd-Frank regulations in the United States. These regulations are giving rise to additional requirements for transparency, security and risk management that are driving demand for Cinnober’s innovative solutions. Clearing systems are increasingly required by the European Market Infrastructure Regulation (EMIR), and the company has, therefore, shifted its focus to real-time clearing solutions. Cinnober is a market leader in this segment and is a competitive supplier to exchanges and clearing houses. Cinnober will in the future stand on four legs, with two of these being clearing systems and trading systems. The two new legs are reporting services and client clearing.

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