Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, today announced a strategic partnership with b-next, a provider of capital markets compliance solutions, to enable compliance managers at both buy side and sell side institutions to meet the ever increasing challenge of monitoring their firm's trading activity.
Through the partnership, Thomson Reuters Accelus Market Surveillance integrates b-next's systematic surveillance capability with Thomson Reuters market data, news analytics and managed services to provide a complete market abuse monitoring and alert management solution covering a broad range of exchange traded and OTC traded asset classes.
With regulations such as MiFID, the EU Market Abuse Directive, REMIT, ESMA Guidelines and the Dodd-Frank Act, financial institutions are under greater pressure to implement systematic surveillance across all trading activity irrespective of instrument type, traded market or exchange venue. With its comprehensive and customisable collection of market abuse detection scenarios, broad asset class coverage and depth of market data and news feed content, Accelus Market Surveillance is designed to provide a single solution that meets the surveillance requirements of a firm's trading activity at both a local and global level.
Further building on the launch of Thomson Reuters Eikon for Compliance Management, a version of the firm's flagship financial markets desktop Thomson Reuters Eikon, Thomson Reuters Accelus Market Surveillance combines automated suspicious trade detection with Thomson Reuters Eikon's access to in-depth market data and company data for surveillance and audit investigations. To power the market surveillance scenarios, the solution also leverages tick data from Thomson Reuters Tick History, a deep repository of tick data across global exchanges and asset classes.
Thomson Reuters Accelus Market Surveillance is delivered as a managed service to enable firms to rapidly scale their businesses, optimize performance levels, streamline operations and support, as well as lower the total cost of ownership. Thomson Reuters Elektron Managed Services is available in strategic data centres to provide a rich environment of data, infrastructure, applications and connectivity. It forms part of the Company's E Elektron suite of trading and data propositions that power the enterprise and connect global markets.
"Continuous pressure and ever increasing obligations to regulators require firms to systematically monitor trading activity and report any suspicious trading." said Martin Porter, UK Director, b-next. "The complexity of trading instruments and the global reach of a firm's trading venues requires a versatile, flexible and efficient solution to monitor all of a firms trading activity. Accelus Market Surveillance meets this requirement and we are pleased to have already completed our first joint customer implementation at a major European Bank within weeks of confirming our partnership."
"Regulatory and compliance issues continue to be a focus of trading operations following a number of high profile rogue trading and insider trading incidents," said Miftah Khan, global head of Trading Compliance & Disclosures, Thomson Reuters. "Trading Compliance managers are looking for a more integrated, flexible, cross-asset trade surveillance solution, and Accelus Market Surveillance is uniquely positioned to serve this need given Thomson Reuters combination of leading compliance, market data, and managed service capabilities. This solution also extends Thomson Reuters' already powerful suite of conduct risk management capabilities spanning conflicts compliance, suitability monitoring, compliance training, regulatory tracking and more. Together, this multi-disciplinary approach enables firms to minimize risk and demonstrate a more visible culture of compliance within their organisations."