Transparency services provider undergoes rebrand to highlight expansion of services in existing and new industries and to align with other subsidiaries in the Cinnober Group.
The firm has revealed its new name: Simplitium. The new brand highlights Simplitium’s core values of Transparency, Integrity and Confidentiality.
This year Simplitium celebrates its ten-year anniversary of providing MiFID reporting services for the finance industry. During this time, the company has published over 18 billion quotes, reported over half a billion trades at a value of £50 trillion and achieved up to 90 per cent market share of OTC reporting. Having operated with 100 per cent up-time and with zero incidents, Simplitium distinguishes itself as a service provider that can reliably and securely manage sensitive client data.
Leveraging the experience gained over the past decade, the company has expanded into the insurance sector to deliver efficiency and transparency to the catastrophe risk modelling marketplace. ModEx, the name of Simplitium’s insurance service, formerly known as Boat Oasis, was launched in December 2016 to provide the (re)insurers with more choice and a better understanding of risk.
Simplitium is now expanding into other sectors to solve market problems and provide value-added services that deliver efficiency through transparency.
“Our market leading reporting service for MiFID, the formation of TRADEcho in partnership with the London Stock Exchange Group for MiFID II, and the delivery of our insurance platform are key achievements for us. I am excited to see what the next decade has in store for us as we enter this new chapter as Simplitium,” says Jamie Khurshid, CEO of Simplitium.
Simplitium is a fully owned subsidiary of Cinnober, the leading provider of exchange and clearing technology. The company is an integral part of Cinnober and will help the group diversify its portfolio, enter new markets and broaden its target audience.
For further information, please contact:
+44 (0)20 3735 4981
By listening and responding to the market, Simplitium (formerly known as Boat Services) transforms complex challenges into flexible, scalable and secure solutions. Simplitium’s services help firms achieve greater efficiency and transparency in their daily operations, from regulatory compliance and cost management to catastrophe risk management.
As a subsidiary of Cinnober, one of the world’s leading clearing and trading technology providers, Simplitium has the stability and structure to ensure secure and reliable delivery of world class services that cover the entire transaction chain. For further information, please visit www.simplitium.com.
ModEx (formerly known as Boat Oasis) is the catastrophe (cat) risk modelling platform for the (re)insurance industry powered by the Oasis Loss Modelling Framework (LMF). ModEx delivers flexible, scalable and secure cat risk modelling services via a hosted and fully managed environment. For further information, please visit www.simplitium.com/modex.
TRADEcho is the real-time MiFID II pre- and post-trade reporting service for investment firms, delivered in partnership with the London Stock Exchange Group. The solution helps firms meet their trade transparency obligations under MiFID II. For further information, please visit www.simplitium.com/tradecho.
About Cinnober Financial Technology
Cinnober provides solutions and services to leading trading and clearing venues, including exchanges, clearinghouses, banks and brokers. Cinnober’s solutions are largely based on the TRADExpress™ Platform, incorporating everything needed for mission-critical solutions in terms of performance, robustness and flexibility. The portfolio of offerings includes price discovery and matching, real-time risk management, clearing and settlement, index calculation, data distribution and surveillance.
Cinnober’s customers include Australian Securities Exchange, B3 (former BM&FBOVESPA), Dubai Gold & Commodities Exchange, Euronext, Japan Exchange Group, Johannesburg Stock Exchange, the London Metal Exchange, LME Clear, NYSE and the Stock Exchange of Thailand.
For additional information, please visit www.cinnober.com