RedKite Surveillance, a specialist in financial trading surveillance and monitoring, today announced that international investment banking group Execution Noble, has selected Redkite Surveillance's Redeye trade surveillance solution.
The project, signed this week following an intensive proof-of-concept phase, will initially look to support the investment bank's Pan-European equities trading operations. Plans are in place to extend geographic coverage later in the year.
Damien Devine, global COO, Execution Noble, comments: "Execution Noble is founded on the principle of transparency to its customers and the marketplace. In the post-MiFID environment, with the proliferation of trading venues and the growth of algorithmic and high frequency trading, our ability to efficiently, cost effectively and flexibly monitor our trading operations is essential to maintaining our competitive advantage. Redkite Surveillance's surveillance solution, Redeye, will support the complexity and sophistication of our trading activities and help us to continually adapt to changing market conditions and regulatory requirements, which is essential to our long-term relationships with our global client base."
Justin Amos, managing director, Redkite Surveillance, comments: "Redkite Surveillance's Redeye monitoring solution will enable Execution Nobile to prevent and detect erroneous trading patterns in real-time, via highly customisable and flexible analysis and alerts. These solutions will enable Execution to monitor instances such as insider trading, based on real-time news sentiment analysis, market abuse, cross-market manipulation and trade activity that focuses on influencing market closing prices."
Devine adds: "We wanted a surveillance solution unrivalled in performance, flexibility and the ability to adapt to an ever-changing market. We were particularly drawn to RedKite due to the management team's weight of industry experience, which includes trading and surveillance veterans from the FSA, JPMorgan, and the London Stock Exchange."