StreamBase Systems, a provider of Complex Event Processing (CEP) technology, has been selected by market surveillance solutions provider Redkite, as the CEP partner of choice for Redkite's trading surveillance system Redeye.
Redkite’s product Redeye enables financial market participants to voluntarily address internal surveillance and demonstrate to regulators that firms can maintain their own market surveillance systems.
According to the StreamBase Systems, Redkite is a CEP-powered enabler for real-time surveillance in a multi-platform environment that helps firms monitor, analyze and act on real-time trading conditions by generating alerts for suspicious transactions and behaviors as they occur.
StreamBase said that the solution will come with pre-built and extensible surveillance scenarios such as layering, front running, insider trading, marking the close and cross-venue manipulation. It will incorporate machine readable data with news analytics and market sentiment indicators to help firms not only monitor, but manage trading behavior.
Justin Amos, managing director of Redkite, said: “Complex Event Processing (CEP) technology provides a flexible, proven platform to help Redkite rapidly integrate its Redeye trade monitoring solution into a client’s existing technology infrastructure, and to rapidly build, test and evolve new surveillance strategies according to changing business, regulatory and market requirements.
Mark Palmer, CEO of StreamBase Systems, said: “This enables our clients to leverage their existing StreamBase infrastructure and knowledge, allowing StreamBase to focus on building the best CEP platform in the industry, empowering experts like Redkite to provide innovative solutions to a broader customer base.”