Turquoise, the multi-lateral trading facility established by nine European investment banks is partnering with Progress Software and Detica to deliver a real-time Market Surveillance System.
The combination of the Progress Apama Complex Event Processing (CEP) Platform and Detica’s market surveillance and trading expertise will deliver a real-time and post-trade market surveillance system that will capture breaches of trading rules, root out market irregularities and develop enhanced trading execution analytics.
“Market surveillance is a vital requirement for any stock exchange. By choosing the Apama platform and deploying Detica’s expertise, we also gain a very flexible system. This will allow us to add value to the market data we collect and offer further client services such as detailed analysis of transactions and a better understanding of price improvement and performance,” says Eli Lederman, CEO, Turquoise.
“The selection of the Apama platform by Turquoise further affirms Apama’s market leadership in delivering mission critical CEP-powered business applications. The real-time detection of complex patterns in market activity will discourage any potential abusers, maintain an orderly market, and promote liquidity,” adds John Bates, founder and general manager, Apama division of Progress Software.
“Our brief is very clear: to design, build and deploy a robust, flexible market surveillance platform within very tight timelines, to Turquoise’s satisfaction. Our team has the right mix of advanced technology skills and deep business domain knowledge to make this happen. We are proud to be part of an exciting venture that will ensure a fair and orderly market and justify the trust that Turquoise has invested in the Detica-Progress Apama partnership,” says Simon Asplen-Taylor, head, Market and Regulatory Services, Detica.