StreamBase Systems, a leading provider of Complex Event Processing (CEP) technology and Redkite, a specialist in market surveillance solutions, today announced that Redkite has chosen StreamBase as the CEP partner of choice for its trading surveillance system Redeye.
Justin Amos, managing director, Redkite, comments: "The complexity and rate of change in today's trading environment means that it is essential for today's financial institutions to accurately monitor trades and adapt in real-time. Complex Event Processing (CEP) technology provides a flexible, proven platform to help Redkite rapidly integrate its Redeye trade monitoring solution into a client's existing technology infrastructure, and to rapidly build, test and evolve new surveillance strategies according to changing business, regulatory and market requirements."
Amos continues, "Product development using CEP is significantly faster than traditional programming techniques allow. Once we had established that this was the way forward for Redeye, we considered all our options. StreamBase is simply the best CEP platform in the market today."
Redkite is a CEP-powered enabler for real-time surveillance in a multi-platform environment that helps firms monitor, analyse and act on real-time trading conditions by generating alerts for suspicious transactions and behaviours as they occur.
The solution comes with pre-built and extensible surveillance scenarios such as layering, front running, insider trading, marking the close and cross-venue manipulation. It incorporates machine readable data with advanced news analytics and market sentiment indicators to help firms not only monitor, but manage trading behaviour.
Miranda Mizen, principal at analyst firm TABB Group, comments: "Surveillance systems need to keep up with the changes in the market place in both the US and Europe and this requires constant investment. In light of both competition and some of the regulatory changes that may be on the horizon, this is a particularly important time for firms to review their capabilities."
Mark Palmer, CEO, StreamBase Systems, says: "The financial industry stands at the precipice of a new era of rapid and fundamental regulatory change. CEP has already been established as the defacto platform to build automated trading systems. Next, we believe it will become the defacto platform for surveillance applications. Our strategy, unlike other CEP players, is to partner with industry experts like Redkite to build innovative solutions powered by our platform. This enables our clients to leverage their existing StreamBase infrastructure and knowledge, allowing StreamBase to focus on building the best CEP platform in the industry, empowering experts like Redkite to provide innovative solutions to a broader customer base."