Javelin Capital Markets selects Cinnober for SEF trading platform surveillance

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9 October 2013

Swap-trading marketplace Javelin — which recently received provisional regulatory approval to operate as a swap execution facility (SEF) — has strengthened its trading platform with the integration of Scila Surveillance from independent technology supplier Cinnober. The Scila surveillance system enforces market integrity as required by the Dodd-Frank Act 2010.  

“Our priority is to implement a market surveillance system that not only meets the monitoring requirements of the SEF new regulations, but also exceeds Javelin’s own internal expectations of high levels of trading integrity to protect its customers,” says James Cawley, CEO of Javelin. “Because of new rules, the OTC derivatives marketplace has already begun to transition to transparent swap execution venues.  This transition means that market participants will now enjoy new levels of market transparency and fair dealing on regulated SEFs.  Javelin is pleased to partner with Cinnober, a clear market leader in market surveillance technology, and deploy its Scila Surveillance system for trading on Javelin.”

Scila Surveillance is a market surveillance system designed for marketplaces and regulators. The solution has achieved great success, thanks to its flexibility, its ability to handle a variety of instruments, ease of use, short implementation time and the use of open standards technologies, resulting in a low total cost of ownership for the customer.

"The new regulations require scalable surveillance technology that can handle the entire monitoring process, from the identification of market abuse to presentable evidence," says Cinnober's CEO Veronica Augustsson. "With Scila Surveillance, we offer a proven concept that can be easily customized for any type of financial actor".

For further information or discussion, please contact: 

Fredrik Backlund Head of Corporate Communications Cinnober Financial Technology Tel. +46(0)73 403 12 39 fredrik.backlund@cinnober.com

James Cawley CEO Javelin Capital Markets Tel. +1 917 361 5985 james.cawley@thejavelin.com

About Javelin Capital Markets

Founded in 2009, Javelin Capital Markets, LLC (www.thejavelin.com) is a derivatives execution platform for Interest Rate Swaps and Credit Default Swaps. Javelin offers both anonymous electronic and voice-hybrid methodologies for trade execution. Javelin works with several execution partners to ensure optimal liquidity for its diverse customer base. Javelin is one of the first platforms to register as a SEF, or Swap Execution Facility, under the Dodd Frank Act with the CFTC.