Cinnober Financial Technology AB was granted 2,5 Meur from the SME Instrument, HORIZON 2020, phase 2.
Cinnober Financial Technology AB develops mission-critical system solutions for exchange trading, clearing, risk management & other financial services. It offers solutions to international exchanges, clearinghouses, banks and brokerages.
The project’s objectives include reducing banks’ cost of capital and collateral requirements by efficient utilization across business units and asset classes. It will also impart operational efficiencies across listed and OTC flows, resulting in a reduced cost per trade. The technology is based on Cinnober’s TRADExpress RealTime Clearing, an offering towards clearinghouses and CCPs.
GAEU has been deeply involved in structuring the scope and configuration of the project and its budget. GAEU conducted workshops with the client and wrote the successful SME Instrument phase 2 application. GAEU also produced the Grant Agreement.
“We are very pleased with GAEU Consulting's work! Together with GAEUs advisors, we have managed to win in fierce competition with other European companies. This is the result of a focused interaction between Cinnober and GAEU which resulted in a SME Instrument phase 2 grant of EUR 2.5 million for a pioneering project in client clearing for international banks.” Veronica Augustsson CEO, Cinnober
Veronica Augustsson, CEO