IEX Taps First Derivatives for Market Surveillance

Delta Surveillance will be scanning through large volumes of structured and unstructured market data collected on IEX every day, in order to detect trading anomalies and flag cases of market abuse.

"As a market centre that set out to become a critical part of the US National Market System, we recognized the need and responsibility to maintain a fair and orderly trading environment for all of our participants," says John Schwall, chief operating officer and co-founder of IEX. "We wanted a surveillance system that had the ability to run sophisticated alerts designed to monitor and preserve IEX market integrity and orderly trading while allowing us to quickly identify and adapt whenever potentially suspicious patterns emerged. We also wanted a system that could easily integrate with the IEX architecture and could scale to handle the increasing data volumes of the future. In addition to the surveillance function, Delta immediately strengthens our visual analytics capabilities and our ability to provide value-added data services for our clients."

Recently, Delta Surveillance has also been implemented by the Australian Securities and Investments Commission.