20. Veronica Augustsson
Chief Executive Officer
Cinnober Financial Technology
Last year: 24

Announcing in April 2016 that it had chosen Cinnober for risk monitoring across all of its markets, Japan Exchange Group joined a growing list of prominent exchange organizations relying on the Stockholm-based company's TRADExpress technology. Brazil's BM&FBovespa, LME Clear in London, the Dubai Gold & Commodities Exchange, and Johannesburg Stock Exchange are among longer-standing users of Cinnober's clearing and risk management solutions.

The 19-year-old company, headed since 2012 by Veronica Augustsson, now touts "multi-asset solutions across the entire transaction chain." NYSE Regulation turned to Cinnober and its frequent partner Scila for its market surveillance system; the London Bullion Market Association has chosen Cinnober's Boat Services for trade reporting and transparency; and TRADExpress as a Service will power the International Property Securities Exchange, which expects to launch this year. The last, also relying on Scila's surveillance technology, has "the potential to revolutionize the commercial real estate market," says CEO Augustsson, 38. In what Cinnober termed a midsize deal, revealed on February 2, the company will be supplying its real-time clearing system to a new, as yet unnamed Asian marketplace, signifying "continuous attention from new ventures and consortiums with a need for our refined posttrade knowledge and modular technology," Augustsson says.

The 2017 Trading Tech 40
Click below to view profiles
Bats Global Markets
Bloomberg Tradebook
CME Group
Intercontinental Exchange
KCG Holdings
Goldman Sachs Group
Fidelity Institutional
MarketAxess Holdings
NEX Optimisation
Tradeweb Markets
IEX Group
Hong Kong Exchanges and Clearing
Citadel Securities
Cinnober Financial Technology
Aquis Exchange
Mana Partners
S3 Partners
AQR Capital Management
Financial Industry Regulatory Authority
OTC Markets Group
Dash Financial
PDQ Enterprises
Vela Trading Technologies
OpenDoor Trading
LMAX Exchange
Monex Group