A new standard for privacy enhancing software solutions
Partisia develop secure auction solutions for different markets. Auctions is all about ensuring better matching and pricing between buyers and sellers in a cost efficient way. Partisia auctions replaces the traditional auctioneer and ensure integrity and confidentiality by advanced cryptography with no single point of trust.
Partisia develop secure statistical solutions for a broad class of applications.
By advance cryptography the statistical solutions keep the raw data encrypted at all time, and only the intended results are revealed.
This highly controlled use of data makes it safer and simpler to provide data.
Secure order matching
In collaboration with Tora, Partisia has developed SMC infrastructure for the next generation of financial order matching. Tora is the provider of the industry’s most advanced cloud-based order and execution platform (OEMS) and operator of Crosspoint also known as off-exchange matching. Every day over three billion dollars of institutional volume is traded through the Tora platform.
The SMC infrastructure is a unique protocol called MACE (Multiparty Agile Computation Engine) that meets the very high security, performance and flexibility requirements needed. Tora apply MACE in the Crosspoint matching service to avoid any data leakages or misuse of information on financial exchanges.
The Tora case is one of the most advanced uses of SMC.
Sepior – a Partisia spinout – is developing a pure cloud solution for cryptographic key management. In close collaboration with a strong team of investors and experienced entrepreneurs, Sepior has raised approximately DKK 25 million in seed money from investors, a grant from the Danish market development fund and not least a SME instrument Phase 2 grant.
While strong encryption is a crucial component in solving cloud security, the problem of proper key management in the cloud remains. Sepior is solving this critical problem in a fundamental new way using Secure Multiparty Computation (SMC). The initial investments and grants, will be used by the Sepior team to turn Sepior and the product Sepior Key Management into a scalable and profitable business.
Partisia is one of the beneficiaries in the SME instrument phase 2 grant and user of the Sepior Key Management.
Secure Multiparty Computation Goes Live
In close cooperation with the Danish sugar industry, the Partisia team developed a secure exchange (also called a double auction) based on Secure Multiparty Computation (SMC). The exchange was the world’s first large scale application and commercial use of SMC. The solution has been used frequently since 2008.
The Partisia Contract Exchange help the Danish sugar industry (including Danisco one of the largest Danish companies at the time) adjust to the changing market situation with a price drop of approximately 40%.
The successful use of SMC was the starting point of Partisia and has been reported in the landmark paper “Secure Multiparty Computation Goes Live” from Financial Cryptography 2009.
Energiauktion.dk – a Partisia spinout – is an automated end-to-end auction broker using a Secure Multiparty Computation (SMC) based auction. In close cooperation with experts in energy trade, Partisia has developed a cloud solution based on SMC. The solution is the world’s first commercial cloud solution based on SMC.
The solution consists of two services: The Power Procurement and The Energi Saving Auction solutions. Both services make it simple to run professional procurement auctions and are tailored to Small and Medium sized Entreprises (SMEs).
The Power Procurement solution is basically a trustworthy “middleman”, simplifying the procurement and bidding process as well as managing consumption data, auctions and resulting contracts for both buyers and sellers.
In close cooperation with Copenhagen Economics, Partisia has been awarded framework agreements with both the Swedish and the Norwegian Telecommunication Authorities on designing, developing and operating spectrum auctions.
Spectrum auctions is a highly specialiced field on designing advanced auctions used to allocate user rights to certain frequency bands. The state is the seller and since the licenses are prerequisite for a teleoperator, the auction basically forms the entire telecom industry. For that reason, these auctions are also refeered to as high stake auctions.
As an example, Partisia’s High Stake Auction tailored for the Norwegian 1800 MHz Spectrum Auction has been used to trade spectrum rights for a total of NOK 877.983.276 over the course of 7 days and 83 bidding rounds in December 2015.
3 REASONS WHY
Strong security made simple
Strong encryption is the best way to protect data, so by keeping the raw data encrypted at all time, data collaboration becomes simple
Best data require strong security
Typically the most valuable date are also the most sensitive data and data collaboration requires a trustworthy solution.
Better data leads to better service
By computing directly on the encrypted data, the most valuable data may be part collaborative services in a confidential way