Clearing and broking provider Kyte Group has rolled out b-next's multi-asset, multi-venue market abuse surveillance system, CMC:Suite.
CMC:Suite allows for the automated surveillance of execution activity across a broad client base, and includes both workflow and case management capabilities. The system can detect potentially abusive scenarios such as wash trading, marking the close and entering so-called spoof trades. Previously, the European Securities and Markets Authority (ESMA) has released guidelines which encourage the use of systematic surveillance programs to aid with compliance.
"b-next's CMC:Suite, delivered on time, has been an essential addition to our compliance processes," says Peter Green, CEO at Kyte. "We pride ourselves on providing a quality service to our clients and recognise the importance of implementing market-leading technology to perform surveillance against abusive market practice. Our clients trade a broad range of asset classes, across a variety of trading platforms, and b-next CMC enables us to monitor trading across all our supported markets and instruments."
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