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Hong Kong, 16 September 2008 - Hong Kong Mercantile Exchange (HKMEx), a newly established commodities exchange in Hong Kong, announces today the appointment of Cinnober, a leading Swedish technology provider, to become HKMEx' partner in the development of its trading platform technology. HKMEx aims to create an electronic trading platform that will place clients at the forefront of market activity with advanced transaction technology and access to liquidity.
After an in-depth review, HKMEx chose to deploy a trading system from Cinnober based on its TRADExpress Trading System, which will be tailored specifically for HKMEx. The technology of the trading system is proven in several high transaction environments such as world class exchanges and Alternative Trading Systems. It will allow HKMEx to handle high liquidity and trading volumes on a secure and scalable high-end platform. The highly versatile system will provide HKMEx with the flexibility to introduce new functionality allowing for short time development of new contracts, services and new types of trading, which ensures that the system will be in pace with the latest commodities industry development. A user-friendly interface will make it extremely easy to access for all types of users including end users, brokers, investment banks and proprietary traders.
Barry Cheung, Chairman of the HKMEx, said, "HKMEx is excited to be partnering with leading technology partner Cinnober to develop one of the most advanced trading systems in Asia Pacific. We believe the advanced architecture, versatility, functionality and performance of Cinnober's product offerings will enable HKMEx to provide best-in-class services to our customers."
The partnership also marks Cinnober's first footprint in Asia, after it has delivered mission critical systems to leading exchanges and institutions including highly prestigious Chicago Board Options Exchange (CBOE), London Metal Exchange and Turquoise.
"We consider this as a major milestone for our company as we broaden our global coverage," said Jan Arpi, CEO of Cinnober, "We look forward to supporting HKMEx in its ambitions to grow and develop the commodities market in Asia. Our technology will truly put HKMEx in a prime position to create a fluid and efficient commodities market."
The creation of HKMEx was announced in June this year and targets to launch its first contract in the first quarter of 2009.
For further information, please contact:
Cinnober Financial HKMEx Technology Chen Yu, Adia Jan Arpi Manager CEO Telephone: +852 Tel. +46-(0)70 860 46 49 3420 9033
Fredrik Backlund Head of CorporateCommunications Brunswick Group Tel. +46-(0)73 403 12 39 Joseph Lo, Chi Lun Director Telephone: +852 9850 5033
Karin Wong Associate Telephone: +852 9755 6265
About HKMEx Hong Kong Mercantile Exchange is a newly established commodities exchange in Hong Kong. It will provide an efficient and transparent pricing platform for end-users and the global trading community to trade tailor-made contracts, hedge pricing risks in China and across the region, lower transactions costs and increase participation by Chinese and international commodities traders. For more information about HKMEx, please visit www.hkmerc.com.
About Cinnober Cinnober provides mission-critical systems to a number of leading exchanges, including The American Stock Exchange, The Chicago Board Options Exchange, Liffe NYSE Euronext, The London Metal Exchange as well as alternative trading systems in the emerging new map of international marketplaces, including Alpha Trading Systems, Markit BOAT and Turquoise. For additional information about Cinnober, please visit www.cinnober.com.
