SAS, a provider of business intelligence software, has been chosen by Detica Group plc as a core technology provider for its recently announced deal with the UK’s Financial Services Authority (FSA).
SAS UK and Detica will deliver a new market monitoring system that will assist the FSA to identify and pursue insider dealings and other market misconduct.
The new intelligence application will proactively detect and combat market abuse by analysing trading in a diverse range of financial instruments. It will provide the FSA with intelligence on unusual and potentially unlawful activity on UK markets.
By using this new solution, the FSA aims to significantly enhance its capability to fight market abuse.
“This contract with the FSA is a major opportunity for Detica and is indicative of the way we can combine our expertise in information intelligence with strong capital markets experience and unique intellectual property,” says Simon Asplen-Taylor, head of market and regulatory services in Detica. “As part of this, we rely heavily our on strategic partnerships. SAS is the leading force in data integration, business intelligence and analytics and we felt there was no better choice than SAS for such a significant deal. SAS has been an integral part of winning the FSA contract.”