Cinnober operates in the technology sector, developing mission-critical system solutions for the financial industry in the areas of trading, clearing, risk management and post trade. The main target groups are international exchanges, clearinghouses, banks and brokerages.
We are proud of the steps we have taken to combat slavery and human trafficking. We remain committed to improving our practices to combat slavery and human trafficking.
This statement has been published in accordance with the Modern Slavery Act 2015 (the Act). It sets out the actions that we have taken to understand all potential modern slavery risks related to our business. At Cinnober and group Companies in the UK, we have a zero-tolerance approach to modern slavery and are fully committed to preventing slavery and human trafficking in our operation and supply chain.
The Companies' sole shareholder is Cinnober, located in Sweden and with subsidiary companies located in Sweden, the United Kingdom and the United States. The Group has approximately 300 employees and a global annual turnover 2017 of MSEK 349.
We are an international company, with direct suppliers based in the countries we operate in, as well as the rest of the European Union. Our supply chain does not include physical labour and is primarily IT development related.
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. While Cinnober does not yet meet the turnover criteria under the UK Modern Slavery Act 2015, Cinnober will under Swedish legislation publish its first sustainability report for financial year 2018, and this will include an anti-slavery policy. This will reflect our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains.
We have zero tolerance to slavery and human trafficking. We expect all those in our supply chain to comply with our standards, and our compliance team works to ensure no form of modern slavery or enforced labour occurs at any point in the supply chain.
Following a review of the effectiveness of steps taken this year to ensure that there is no slavery or human trafficking in our supply chains we intend to take the following further steps to combat slavery and human trafficking: