Stockholm-based financial technology provider Cinnober has launched a Software as a Service system for exchanges and marketplaces, the company said today.

The offering, dubbed TESS, which stands for TRADExpress Streamlined Services, comprises a hosted and managed exchange system with a set of add-ons to shape and extend the service, including market surveillance, according to Cinnober. The capacity in terms of number of trading members and throughput can be scaled up on demand, allowing customers to start small and grow quickly.

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