APEX utilises Cinnober and Irisium 31 May 2018Singapore Reporter: Jenna Lomax
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Asia Pacific Exchange (APEX), a new derivatives exchange and clearinghouse, based in Singapore, went live with core functions operating on technology from the Cinnober Group.
APEX鈥檚 independent clearinghouse, Asia Pacific Clear now runs on Cinnober鈥檚 TRADExpress RealTime Clearing, for over-the-counter (OTC) and exchange-traded markets.
Irisium, a subsidiary within the Cinnober Group, provides APEX鈥檚 market surveillance system.
According to APEX, by using Irisium鈥檚 platform, it will be able to identify in real time and investigate manipulative and suspicious trading behaviours.
The first contract to trade on APEX is the US dollar-denominated physically-delivered Palm Olein Futures contract.
APEX is Singapore's third derivatives exchange after The Singapore Exchange and Intercontinental Exchange. At launch, APEX had six clearing members.
Eugene Zhu Yuchen, the company's founder and CEO, said: 鈥淎PEX's vision is to establish itself as an exchange that will be the Asian center for price benchmarks to be referenced by global market participants.鈥�
He added: 鈥淎 fair and orderly market reflects genuine demands and supplies. We believe that through the close cooperation with Cinnober and Irisium, APEX is able to provide a fair, transparent and regulated trading venue to all participants.鈥�
Veronica Augustsson, CEO of Cinnober Group, commented: 鈥淲e are very proud to now be live with our real-time clearing solution and surveillance platform also in Singapore.鈥�
She added: 鈥淚t鈥檚 a pleasure and privilege to be part of APEX setting up of a new derivatives market, and being able to contribute with our real-time technology and joint expertise and know-how across Cinnober and Irisium within post-trade services and market surveillance.鈥�
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