The new system has been in development since First Derivatives won an ASIC tender to build it in December 2012.
First Derivatives director for Asia Pacific Rob Hodgkinson said ASIC now has the tools it needs to monitor the market in a “very sophisticated way”.
“Globally, regulators face issues in being able to keep up with the speed and sophistication of their own markets, which is obviously a huge problem if you’re trying to police the market effectively,” he said.
“The system designed for ASIC puts it at the head of the pack in terms of their capabilities as an effective, evidence-based regulator,” said Mr Hodgkinson.
ASIC senior executive leader of market and participant supervision, Greg Yanco, said the regulator had decided to upgrade its system given the “dynamism” of the market environment.
“We wanted a system capable of capturing and analysing data from all our participants on all markets in real time,” he said. “With this implementation we can identify questionable activity straight away and act upon it much quicker.”
