This content is from: Portfolio

The 2016 Trading Technology 40: Veronica Augustsson

< The 2016 Trading Technology 4024Veronica AugustssonChief Executive OfficerCinnober Financial TechnologyLast year: 32

Founded in Stockholm in 1998, Cinnober Financial Technology made its mark in posttrade systems and gained global prominence in the postcrisis period with advances in real-time clearing for such customers as Brazil’s BM&FBovespa, the Johannesburg Stock Exchange and LME Clear in London. Veronica Augustsson, who has worked for Cinnober since 2002 and been CEO since 2012, has steered the company in new directions — notably, on the trading end, in a deal with the Australian Securities Exchange, and with surveillance technology, of which the New York Stock Exchange is a marquee user. Cinnober announced an initiative last May with CRYEX Group, a Swedish start-up awaiting regulatory approval for an exchange and clearinghouse for both conventional currencies and cryptocurrencies, including Bitcoin. Augustsson, 37, is also advocating higher quality standards for financial technology, making her case in an April 2015 white paper. “Compare the financial industry to airplanes or pharmaceuticals,” she says. “They have standards for quality. They have defined what quality is.” Once quality is defined, it can be measured and those in charge can make decisions accordingly. Augustsson contends that there often is too little information to estimate, for example, the return on a given investment in quality control. “We can’t really compare quality because we haven’t defined it,” she says. “It’s a very dangerous situation.” Augustsson hopes to convince the industry that there is a business case for defining and standardizing quality. Well-reasoned investments in prevention, she believes, will be far less costly than the outages that have plagued financial market operations in recent years.


 2016 Trading Technology 40Click below to view profiles
1. Raymond Tierney IIIBloomberg2. Richard PragerBlackRock3. Chris IsaacsonBATS Global Markets4. Jonathan RossKCG Holdings5. Bradley PetersonNasdaq
6. Brad LevyMarkit7. Dan KeeganCiti8. Ronald DePoaloFidelity Institutional9. Raj MahajanGoldman Sachs Group10. Ari StudnitzerCME Group
11. Mayur KapaniIntercontinental Exchange12. Gerald O’ConnellCBOE Holdings13. Nicholas ThemelisMarketAxess Holdings14. Gil MandelzisEBS BrokerTec (ICAP)15. Bill Chow and Richard LeungHong Kong Exchanges and Clearing
16. Rob ParkIEX Group17. Philip WeisbergThomson Reuters18. John Mackay (Mack) GillMillenniumIT19. Robert CornishInternational Securities Exchange20. Paul HamillCitadel Securities
21. Eric NollConvergex22. Tyler Moeller and Joshua WalskyBroadway Technology23. Rishi NangaliaREDI Holdings24. Veronica AugustssonCinnober Financial Technology25. Alasdair HaynesAquis Exchange
26. Manoj NarangMana Partners27. Gaurav SuriArcesium28. Robert SloanS3 Partners29. Anton Katz and Stephen MockAQR Capital Mgmt30. Stu TaylorAlgomi
31. D. Keith Ross Jr.PDQ Enterprises32. Donal ByrneCorvil33. Alfred EskandarPortware34. R. Cromwell CoulsonOTC Markets Group35. Masayuki HosakaRakuten
36. Peter Maragos and David KaratDash Financial37. Amar KuchinadElectronifie38. Jennifer NayarSR Labs39. Dave SnowdonMetamako40. Dan RajuTradier