Vermiculus launches trading and clearing systems tech

Written by Sharon Kimathi
19th June 2020

A new exchange and clearing house tech provider, Vermiculus Financial Technology (VFT), has launched in Sweden, and has appointed Taraneh Derayati as its chief executive officer (CEO).

It aims to continue developing modern technology, cloud-enabled and modular, for all asset classes with real-time features, and to serve business-critical projects where requirements on quality, data volume and reliability are immense.

The solutions cover the entire lifecycle of a trade from pre-trade risk management to comprehensive margin calculations through the final settlement.

A group of former employees from Cinnober Financial Technology established Vermiculus in 2020 as a response to the huge gap between supply and demand in the market for independent providers of this technology.

The Swedish company has also appointed Taraneh Derayati as its chief executive officer.

Headquartered in the centre of Stockholm, the Vermiculus team consists of 25 employees, who will be the majority owners.

Its new CEO, Derayati, has vast experience in leading large technical transformation projects within the exchange and clearing areas.

Prior to her employment at Vermiculus, Derayati was head of sales, business development and client account management at Cinnober where she led some of the firm’s largest sales before it was acquired by Nasdaq. She continued as vice president at Nasdaq Market Technology division where she led a major clearing project to replace the infrastructure with a new RealTime Clearing system.

“Vermiculus is well-positioned to serve its customers with modern technology with a powerful team who has years of business and technical knowledge from the financial industry, We are excited to start this journey and look forward to our continuous growth and value creation for our customers”, says NilsRobert Persson, chairman of the board.

Vermiculus has signed its first customers within the central clearing counterparty (CCP) risk management area and has formed a cross-functional project team to serve its customers.