Ireland based stockbroking Davy has added software and technology services provider SunGard’s Protegent Market Abuse system, to assist manage market surveillance across its equity and bond trading operations around the world.
The newly implemented platform will offer analytical tools including graphical visualizations of market events, news and market data as well as a configurable baseline rules and reports library.
This will ensure compliance with regulations such as the Market Abuse Directive, including recent European Securities and Markets Authority guidelines (2012/122) "Controls in an Automated Trading Environment," and relevant parts of MiFID, SunGard said.
Davy regulations and compliance head Ger Knowles said it is vital to display corporate responsibility and identify potential market abuse.
"SunGard’s Protegent Market Abuse solution provides the flexibility and functionality that we need to help manage the increasing regulatory requirements to perform timely and exhaustive market abuse surveillance," Knowles commented.
SunGard’s Protegent business unit chief operating officer Steve Sabin said, "SunGard’s Protegent Market Abuse solution will help Davy identify high risk behaviors that require compliance reviews and respond quickly in advance of and during regulatory and legal inquiries."
Davy caters a range of services to private clients, small businesses, corporations and institutional investors, and organizes its activities around five interrelated business areas including asset management, capital markets, corporate finance, private clients and research.