UK’s Financial Services Authority (FSA) will utilize the Progress Software Corporation’s Apama Event Processing Platform to power SABRE II, its transaction monitoring and market abuse detection system.
The Apama platform was selected by Detica Group plc within a comprehensive programme awarded by the FSA to develop the next generation of their SABRE market surveillance system.
SABRE II will be deployed to monitor trading on UK markets and transactions reported to the FSA in accordance with the requirements of the European Union Markets in Financial Instruments Directive (MiFID).
“The use of the Progress Apama technology by the UK’s financial services regulator re-emphasizes Apama’s position as the market leader in complex event processing and business activity monitoring,” says Mark Palmer, vice president and general manager of the Apama division of Progress Software. “This mission-critical project with the FSA and our ongoing partnership with Detica further demonstrate how Progress Apama technology can be used in real-time market surveillance and capital markets abuse detection.”