3i Infotech, a provider of IT solutions, announces that the Zagreb Stock Exchange (ZSE) has become the first European bourse to license its automated, multi-segment market surveillance system, AWACS.
Exchanges around the world, particularly those in emerging markets, are looking to implement transaction monitoring systems in order to improve investor confidence. While many currently use manual or semi-automated processes they are under increasing pressure from regulators to install fully-automated systems.
AWACS proved its capabilities to ZSE during a rigorous proof of concept and will now be used to handle all elements of the surveillance process for its equity and fixed income markets. ZSE may extend this in the future to include derivatives.
Having reviewed a number of surveillance systems we selected AWACS because of its flexibility, powerful functionality and rapid time to market, says Roberto Motusić, president of the Zagreb Stock Exchange. An impressive proof of concept, in which AWACS correctly identified real cases of market manipulation despite the data having been masked, sealed our decision.
D.C.