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Market Detect incorporates flexible and powerful analytics tools incorporating Complex Event Processing (CEP) technology designed to assist financial institutions in detecting and preventing market abuse, minimise trading risk whilst ensuring compliance.
In what is already considered an established market, this competitively priced surveillance and analytics tool bucks the trend, rather than a shrink-wrapped “one size fits all” solution, the service delivery element focuses on consultancy ensuring it is customised to meet specific compliance requirements. It is also one of the first surveillance systems which can be delivered flexibly on a hosted pay-as-you-go basis to suit financially volatile times or as an on-premise solution implemented onsite.
Market Detect works by intelligently collecting and analysing organisational data including agent, trader and client activity data using a state-of-the-art detection engine to uncover and present hidden patterns. Taking direct feeds from trading and telecommunications data, the application incorporates intelligent transaction monitoring, a fully featured alert engine and provides case management for automated reporting and audit trail capture.
Known scenarios or rules can be modified and enlarged by compliance or internal audit and the application works intelligently using algorithms to provide increasingly predictive data leading to proactive decision making. According to Simon Rafferty, Head of Compliance at Winterflood Securities “The decision to invest in Market Detect was an obvious one for us, it is not only priced competitively, it gives us the ability to tailor it to specifically meet the needs of our business.“
Plans for further product differentiation are underway for Market Detect and will include providing enriched analysis capabilities by integrating call data into the analytics scenario. Data from call recordings will be effectively run through the detection engine alongside other data feeds and output can be used to provide hidden relationship analysis.
Stephen Thurston, Sales Director at Business Systems commented “The ability to rapidly facilitate internal detection of problems is a constant business critical concern. Built around this principle, Market Detect has already generated interest from a number of leading securities firms and trading floors interested in receiving value for money analytics applications which can be customised to meet their own internal surveillance measures as well as external regulatory monitoring.“