The Australian Securities and Investments Commission (ASIC) has chosen First Derivatives to provide its new multi-market surveillance system, as it looks to further its statutory obligation in overseeing Australia's licensed financial markets.
First Derivative's Delta Stream systems enable the detection of trading anomalies and irregularities that may indicate disorderly or prohibited trading across the range of traded asset classes and products.
"A key facet of this is integrating exchange databases - a capability that's been lacking in surveillance systems - whereby modular systems may be 'plugged in' to deliver capabilities around various asset classes, surveillance requirements and trading styles," First Derivatives director APAC, Rob Hodgkinson said.
"Our team includes experience in both exchange technology and real time trading, meaning we can apply a holistic, real-world view to solving the very complex issues at play in today's markets."
The Delta Stream system is able to monitor various instrument types in differing asset classes, like equities and fixed income, at a high velocity within its singular platform.
First Derivatives will be delivering the system for ASIC for an initial four-year term.
ASIC have said the new system enabled its market surveillance team to monitor market activity in line with an increased use of technology in day-to-day trading.
