DBS, a Singapore-headquartered financial
services group, has announced its plans to boost its surveillance and market
integrity efforts by onboarding the trading surveillance technology of American
exchange NASDAQ.
The group in a statement on Thursday noted that
the technology will enable it to double down on its abilities to analyze
comprehensive market abuse surveillance cases and patterns.
The solution will also enable Southeast Asia’s largest bank to detect trading anomalies across the equities,
derivatives, and over-the-counter forex markets.
DBS also believes that the Software-as-a-Service solution will empower its analysts to optimize the
time they spend detecting and responding to potential risks of market abuse.
“The technology will provide DBS with a
consolidated, flexible, and user-friendly view to manage and monitor market
conduct across multiple trading venues and asset classes, while enabling DBS’
trade surveillance team to detect, investigate, and document a wide array of
market abuse behaviors through alerts that can be tailored to subsets of the
market and asset classes,” DBS explained.
Ko Chin Siong, the Chief Operating Officer of DBS
Vickers, the brokerage arm of the group, however, pointed out that the technology is an
addition to DBS’ existing suite of technologies deployed across all levels.
Onboarding the NASDAQ solution “will enable us
to better protect our clients’ interests,” Songs added.
According to NASDAQ, the trade surveillance
solution is used by more than 2,300 companies including banks, regulators, and
capital markets infrastructure operators.
Trade Surveillance in 2022
Trade surveillance remains a critical part of
the financial industry in both traditional and emerging digital asset
markets.
At the beginning of the year,
the Financial Industry
Regulatory Authority (FINRA), America’s private self-regulatory organization, slammed a $350,000 penalty
on E*TRADE, an electronic trading platform and a Morgan Stanley subsidiary.
FINRA said the fine was for the platform’s
failures to establish and maintain its supervisory systems. The private regulator, among other allegations, claimed that E*TRADE failed to detect manipulative trading instances due to lapses in its systems.
Meanwhile, in July, Best Execution Solutions (BXS), a New
York-based trade data analytics firm, launched a new trade surveillance platform.
BXS said the platform through a single screen helps users to detect potential market manipulations, take them up with the
appropriate parties and resolve them.
Furthermore, leading cryptocurrency exchange
Binance in April appointed Seth
Levy to lead its effort to
build and implement a surveillance infrastructure and system to safeguard users
against fraud and manipulation.
DBS, a Singapore-headquartered financial
services group, has announced its plans to boost its surveillance and market
integrity efforts by onboarding the trading surveillance technology of American
exchange NASDAQ.
The group in a statement on Thursday noted that
the technology will enable it to double down on its abilities to analyze
comprehensive market abuse surveillance cases and patterns.
The solution will also enable Southeast Asia’s largest bank to detect trading anomalies across the equities,
derivatives, and over-the-counter forex markets.
DBS also believes that the Software-as-a-Service solution will empower its analysts to optimize the
time they spend detecting and responding to potential risks of market abuse.
“The technology will provide DBS with a
consolidated, flexible, and user-friendly view to manage and monitor market
conduct across multiple trading venues and asset classes, while enabling DBS’
trade surveillance team to detect, investigate, and document a wide array of
market abuse behaviors through alerts that can be tailored to subsets of the
market and asset classes,” DBS explained.
Ko Chin Siong, the Chief Operating Officer of DBS
Vickers, the brokerage arm of the group, however, pointed out that the technology is an
addition to DBS’ existing suite of technologies deployed across all levels.
Onboarding the NASDAQ solution “will enable us
to better protect our clients’ interests,” Songs added.
According to NASDAQ, the trade surveillance
solution is used by more than 2,300 companies including banks, regulators, and
capital markets infrastructure operators.
Trade Surveillance in 2022
Trade surveillance remains a critical part of
the financial industry in both traditional and emerging digital asset
markets.
At the beginning of the year,
the Financial Industry
Regulatory Authority (FINRA), America’s private self-regulatory organization, slammed a $350,000 penalty
on E*TRADE, an electronic trading platform and a Morgan Stanley subsidiary.
FINRA said the fine was for the platform’s
failures to establish and maintain its supervisory systems. The private regulator, among other allegations, claimed that E*TRADE failed to detect manipulative trading instances due to lapses in its systems.
Meanwhile, in July, Best Execution Solutions (BXS), a New
York-based trade data analytics firm, launched a new trade surveillance platform.
BXS said the platform through a single screen helps users to detect potential market manipulations, take them up with the
appropriate parties and resolve them.
Furthermore, leading cryptocurrency exchange
Binance in April appointed Seth
Levy to lead its effort to
build and implement a surveillance infrastructure and system to safeguard users
against fraud and manipulation.
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