UK software house Sinara Consultants, a specialist in IT systems for exchanges and their member firms, has been chosen to develop a new Matching system for the London Metal Exchange (LME).
As part of its plans to upgrade its core systems to meet MiFID II requirements, the LME will deploy a new, more flexible Matching system to replace the existing LMEsmart. The matching system developed by Sinara will integrate with both the Trading and Clearing systems at the LME.
Sinara’s Project Director, Phil Bain adds: “We are delighted to be developing this strategically important new system for the LME. The new Matching system will need to be flexible enough to support the LME’s development and growth, as well as the requirements of MiFID II. This project builds on Sinara’s long-standing relationship with the LME who benefit from our in-depth knowledge of their business and IT systems.”
Sinara has designed and delivered many important IT systems for the LME over the past few years, most recently LMEbullion, a custom-built electronic auction system for platinum and palladium.
“The LME continuously invests in infrastructure and technology to ensure we provide the optimum level of service for our markets. We are pleased to be working with Sinara, a trusted long-term supplier, to enhance the efficiency and flexibility of the LME’s matching platform,” says Stuart Sloan, chief operating officer and head of strategy at the LME.
Established for over 30 years, Sinara is a London-based software house building highly integrated, supported, and managed software solutions for clients across the financial markets. A trusted software partner to leading global exchanges and trading firms, Sinara helps clients achieve business goals and streamline operations in fast-moving environments.
For further information regarding Sinara, please email email@example.com or visit sinara.com.