October 13, 2006

Cinnober Acquires Full Ownership in Cinetics

Conceptec has sold its 50% shareholding in Cinetics Ltd to Cinnober for an undisclosed sum. Cinetics owns the rights to the Ctrade software implemented at Euronext.liffe and Chicago Board Options Exchange (CBOE). It connects buyers and sellers and creates a community for price dissemination, RFQ's, negotiation etc.

When combining these assets with Cinnober's other marketplace offerings, including trade matching, validation and connection to clearing, the combined offering becomes a full-fledged marketplace solution for trading of non-standardized contracts.

The Ctrade technology is used by more than 200 banks and market makers and more than 100 brokerages around the world. It is connected to most of the largest financial institutions globally.