NYSE Regulation Taps Cinnober for Market Surveillance
NYSE Group, which comprises three equities exchanges and two options exchanges, will expand its market surveillance, investigation and enforcement program through NYSE Regulation upon the expiration of the contract with the Financial Industry Regulation Authority (Finra) on December 31 2015.
“Exchanges are the ultimate gatekeepers with a mandate to ensure market integrity,” says Michael Grecoff, head of sales, market surveillance systems, at Cinnober. “The Cinnober Surveillance system will play a very important role in assisting NYSE with its duty to the markets.”
The Cinnober surveillance system, powered by Scila, has already been implemented by other exchanges, including Deutsche Börse, Eurex, and the Stock Exchange of Thailand.
NYSE Regulation has also appointed Adam Wasserman as its head of enforcement. Wasserman previously served as a partner for Dechert law firm, where he was a senior member of its white collar and securities litigation group.
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