CScreen, an OTC trading platform enabling inter-dealer brokers to electronically negotiate and trade complex financial instruments with their clients, is buying some technology from CMS Web View.
To date, CScreen has gained a following mainly in the OTC equity derivatives market where it is used by around 20 brokers and over 80 client banks. The number of participants in this area continues to grow and CScreen says it is poised for application in other financial market sectors.
Under the initial terms of the agreement, CScreen hosting and administration will be managed by CMS whilst sales and marketing activity will continue to be handled by the existing CScreen team. At the next stage of development, CScreen owners Cinnober and CMS will share responsibility for the growth of CScreen in its current marketplace as well as in new areas of business.
“This agreement complements CMS’s strategy of leveraging its existing infrastructure and utilises the company’s expertise in the area of data collection, processing and distribution in the financial market arena,” says Bob Antell, CEO of CMS WebView. “We look forward to working closely with Cinnober and the CScreen sales and marketing team to realise fully CScreen’s business potential.”
Peter Fredriksson, CEO of CScreen, added: “We identified quickly the business synergies that exist between CMS and Cinnober. This agreement will enable us to exploit fully the opportunities to develop the market for CScreen technology.”