< The 2015 Trading Technology 40: Going with the Flow
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Veronica Augustsson
Chief Executive Officer
Cinnober Financial Technology
Last year: 38
For most of its 17-year life, Cinnober Financial Technology has competed against the likes of Nasdaq OMX Group and London Stock Exchange Group’s MillenniumIT, but without comparable brand recognition. As Cinnober’s specialty, posttrade systems, came into the spotlight because of postcrisis regulatory and cost pressures, the Stockholm-based company thrived by installing its TRADExpress platform at Brazil’s BM&FBovespa, Intercontinental Exchange’s Liffe and other infrastructure-upgrading markets around the world. Now Cinnober and its 36-year-old CEO, Veronica Augustsson, have raised their sights to end-to-end market automation. At least one financial marketplace, its name as yet undisclosed, is preparing to go live early this year with an exchange-tailored version of SaaS, or software as a service: Cinnober will carry the full technology load so the client “can focus on their business,” says Augustsson, a 15-year Cinnober veteran and CEO since October 2012. Included in the turnkey package is surveillance, an increasingly in-demand oversight and compliance offering from Cinnober and its Scila Surveillance affiliate. Scila scored a coup in October when ICE’s NYSE Regulation became a customer. Last year Cinnober signed a TRADExpress deal with Euronext to enable creation and clearing of derivatives products and took control of Markit’s BOAT trade reporting service, which rivals BATS Chi-X Europe’s BXTR. “During the financial crisis banks and brokers were capping costs and downsizing fees,” Augustsson says. “Now they’re more open to buying standard services and products.” She believes Cinnober is in a position to help clients with transaction management functions such as collateral optimization and with technology tools and services to avoid outages.
The 2015 Trading Technology 40
| 1 | 2 | 3 | 4 | 5 |
| Kevin Kometer CME Group | Richard Prager BlackRock | Raymond Tierney III Bloomberg Tradebook | Jonathan Ross KCG Holdings | Charles Vice Intercontinental Exchange |
| 6 | 7 | 8 | 9 | 10 |
| Chris Isaacson BATS Global Markets | Bradley Peterson Nasdaq OMX Group | Brad Levy MarkitSERV | Dan Keegan Citi | Ronald DePoalo Fidelity Institutional |
| 11 | 12 | 13 | 14 | 15 |
| Gerard Beatty Goldman Sachs Group | Gerald O’Connell CBOE Holdings | Brenda Hoffman TMX Group | Billy Hult Tradeweb Markets | Nicholas Themelis MarketAxess Holdings |
| 16 | 17 | 18 | 19 | 20 |
| Bina Kalola Bank of America Merrill Lynch | Gil Mandelzis EBS-BrokerTec (ICAP) | Steven Randich Financial Industry Regulatory Authority | Jerry Dobner GFI Group | Michael Liberman BlueMountain Capital Management |
| 21 | 22 | 23 | 24 | 25 |
| Bill Chow and Richard Leung Hong Kong Exchanges and Clearing | Jamie Selway Investment Technology Group | Brad Katsuyama IEX Group | John Mackay (Mack) Gill MillenniumIT | Jamil Nazarali Citadel Execution Services |
| 26 | 27 | 28 | 29 | 30 |
| Robert Cornish International Securities Exchange | Tyler Moeller andJoshua Walksy Broadway Technology | Rishi Nangalia REDI Holdings | Manoj Narang Tradeworx, Thesys Technologies | Oki Matsumoto Monex Group |
| 31 | 32 | 33 | 34 | 35 |
| Alasdair Haynes Aquis Exchange | Veronica Augustsson Cinnober Financial Technology | Stu Taylor Algomi | Luís Otávio Saliba Furtado BM&FBovespa | Tal Cohen Chi-X Global Holdings |
| 36 | 37 | 38 | 39 | 40 |
| Donal Byrne Corvil | R. Cromwell Coulson OTC Markets Group | Alfred Eskandar Portware | Richard Korhammer SR Labs | Hazem Dawani OptionsCity Software |
