SteelEye launches cross-product detection
20 August 2024 US
Image: natali_mis/stock.adobe.com
SteelEye has launched cross-product detection for trade surveillance, a new feature aimed at safeguarding financial institutions against the growing threat of cross-product market manipulation.
The company says the solution uses sophisticated algorithms to analyse trading activity across multiple instruments and proactively identify cross-product manipulation patterns. By recognising suspicious correlations between trades in different instruments, the tool aims to help uncover hidden relationships that might otherwise go unnoticed.
The system also generates a potential market abuse alert, enabling swift action to protect market integrity.
Matt Storey, chief product officer at SteelEye, says: “With financial markets growing increasingly interconnected and wrongdoers deploying ever more sophisticated manipulation tactics, firms must ensure their defences are as robust as ever. In this context, cross-product surveillance is no longer a ‘nice-to-have’ — it’s an essential tool for protecting market integrity.”
The company says the solution uses sophisticated algorithms to analyse trading activity across multiple instruments and proactively identify cross-product manipulation patterns. By recognising suspicious correlations between trades in different instruments, the tool aims to help uncover hidden relationships that might otherwise go unnoticed.
The system also generates a potential market abuse alert, enabling swift action to protect market integrity.
Matt Storey, chief product officer at SteelEye, says: “With financial markets growing increasingly interconnected and wrongdoers deploying ever more sophisticated manipulation tactics, firms must ensure their defences are as robust as ever. In this context, cross-product surveillance is no longer a ‘nice-to-have’ — it’s an essential tool for protecting market integrity.”
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