Commodity Futures Trading Commission selects Actimize surveillance platform
Actimize, a leading provider of transactional risk management software for the financial services industry and a Nice Systems (NASDAQ:NICE) company, announced that the Commodity Futures Trading Commission (CFTC) selected the Actimize surveillance platform to monitor trading transactions within the market for suspicious activity.
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Leveraging Actimize's flexible development and modeling tools, the agency will deploy models to uncover traders that may be manipulating the market and violating trading rules.
Congress created the CFTC in 1974 as an independent agency with the mandate to regulate commodity futures and option markets in the United States. Today, the CFTC assures the economic utility of the futures markets by encouraging their competitiveness and efficiency, protecting market participants against fraud, manipulation, and abusive trading practices, and by ensuring the financial integrity of the clearing process. Through effective oversight, the CFTC enables the futures markets to serve the important function of providing a means for price discovery and offsetting price risk.
"Actimize is the de facto standard when it comes to trading surveillance and brokerage compliance," says David Sosna, CEO of Actimize. "This recent selection by the CFTC, a world leading regulator, adds to the many brokerage firms already using the Actimize solutions and further illustrates the strength of our platform and flexible surveillance modeling tools."