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The 2014 Trading Technology 40: Veronica Augustsson
|Cinnober Financial Technology|
|(Previously not ranked)|
Selling technology to exchanges and clearinghouses, Stockholm-based Cinnober Financial Technology may lack the brand power of competitors such as Nasdaq OMX Group. But with Brazil's BM&FBovespa, Dubai Gold & Commodities Exchange, London's LME Clear and NYSE Liffe among Cinnober's customers, CEO Veronica Augustsson is satisfied that "within our niche we have good recognition." In fact, business has exploded in the past five, postcrisis years, and Cinnober has doubled its workforce, to 250, thanks to demand for upgraded posttrade infrastructures and the ability of its real-time TRADExpress platform to fill the bill. "It will help to be better known as we broaden our market into banks and brokerages, and we will put some effort into that," says Augustsson, 35. With a master's in computer engineering from Stockholm's Royal Institute of Technology, she joined Cinnober as a developer 14 years ago, drawn to "the technical challenges of the always-available, always-connected aspects of financial IT," and became CEO in October 2012. Formed in 1998, Cinnober descends directly from Sweden's electronic trading heritage, with roots in the pioneering efforts of SEB Bank and Nasdaq predecessor OM in the 1980s: The company's co-founders came out of those organizations. Cinnober is launching a training program this year as part of a "world-class technology cluster" around the university town of Umeå that Augustsson says will "keep Sweden in the forefront" by marrying general computing disciplines with the unique needs of financial IT.
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