Scila AB

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Scila AB
Scila AB logo.png
Headquarters Stockholm, Sweden
Key People Lars-Ivar Sellberg, Executive Chairman
Products Surveillance software
Website www.scila.se

Scila AB is a Swedish software developing company, specializing in trading surveillance systems for trading venues, banks & brokers and regulators. Scila assists financial markets, regulators and market participants detect market abuse based on standard open technologies. [1]

History

During 2012, Scila launched Scila Compliance, a trade monitoring and AML system for Investment Banks and Brokers. Swedish trading firm Öhman Capital became the first customer to use the software. In February 2013, one of the major global investment banks signed up for its European equity and equity derivatives operations. [2]

In early 2008, the four founders of Scila AB decided to come together and blend ideas about building a trading surveillance system for exchanges and other marketplaces.

In February of 2009, technology companies Cinnober and Scila AB announced the signing of an exclusive sales agreement involving the launch of Scila Surveillance, and it was touted as a turnkey solution for exchanges, banks and regulatory bodies seeking to apply technology to obtain a seamless route from detection to presentable evidence. Under the agreement, Cinnober acts as a distributor of Scila Surveillance.[3]

Burgundy, an MTF in Stockholm, and the Hong Kong Mercantile Exchange were Scila's first two customers to sign on in the spring of 2009.

In September 2009, London Stock Exchange Group chose Scila Surveillance for EDX London. The system will be deployed on the SOLA trading platform to be used by EDX London, under license from TMX Group.[4] EDX London is the third marketplace to implement Scila Surveillance. It has already been delivered to monitor equities at Nordic MTF Burgundy and commodities at the Hong Kong Mercantile Exchange.

In January 2011, Scila Surveillance, a multi-asset solution marketed by Cinnober, was selected for Deutsche Boerse Group's two largest exchanges; Eurex and Xetra. [5]

It was announced in early February 2011 that the Energy Trade Data Reporting Scheme, a project coordinated by the Financial Services Working Group of the European Energy Regulators and managed by the Austrian energy regulatory authority, E-Control, had chosen Scila Surveillance to import and analyze historical trade data from energy exchanges, brokers and traders specific to the project. [6] The EU plans to develop market transparency and ensure market integrity.

Other Exchanges that have gone live with Scila's surveillance software include the Hong Kong Mercantile Exchange, Stock Exchange of Thailand and Dubai Gold and Commodities Exchange. [7] [8]

Key People

References

  1. Scila Home. website.
  2. Cinnober launches Scila Compliance. Cinnober.
  3. Press Release. Cinnober.
  4. Press Release. Scila.
  5. Deutsche Borse Taps Cinnober New Market Surveillance Technology. Cinnober.
  6. Cinnober Scila Surveillance tapped for EU energy markets pilot. Finextra.
  7. Scila News. website.
  8. DGCX Implements Scila Surveillance. Mondo Visione.