Otkritie Capital chooses Nice Actimize for market abuse surveillance and AML

Source: Nice Actimize

Nice Actimize, a Nice Systems company (NASDAQ:NICE) and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, today announced that Otkritie Capital has selected Nice Actimize to provide cloud-based Market Abuse Surveillance and Anti-Money Laundering solutions in support of its cross-asset Direct Market Access (DMA) platform and broker dealer activities.

Services will be hosted by NICE Actimize from the company's UK data centre.

Otkritie Capital services are rendered in the UK by Otkritie Securities Limited, an indirect subsidiary of Otkritie Financial Corporation JSC, one of the leading financial services providers and prime brokers in Russia. According to Otkritie Capital, its direct market access (DMA) platform allows customers to take advantage of the latest technology to reduce costs and greatly increase the speed of transactions, opening up more trading strategies and opportunities than ever before. Otkritie Capital will rely on NICE Actimize's cloud-based technology for its trading practices compliance programme to detect and report potential market abuse and money laundering activities across its European business. A combined global team based in London, Moscow and Frankfurt will coordinate delivery of NICE Actimize's Market Abuse Surveillance and Anti-Money Laundering solutions.

NICE Actimize's solutions complement this fast-paced environment and are used by the world's largest financial institutions and regulators to increase their insight into suspicious behaviour and improve risk and compliance management. While some regulators, securities firms and investment banks still rely on manual or semi-automated processes to monitor compliance with market abuse regulations, automation such as that provided by NICE Actimize's products improves the identification and reporting of suspicious transactions within this environment.

NICE Actimize provides cloud-based solutions in addition to on-premise support as an alternative delivery mechanism, and hosts them in a secure data centre. The cloud-based delivery approach minimises deployment time, reduces total cost of ownership and speeds return on investment.

"Otkritie Capital conducted a rigorous search with stringent criteria before choosing NICE Actimize for the automation of our regulatory compliance initiatives in trading and fixed income," said Nils Jahn, Managing Director of Global Electronic Trading at Otkritie Capital. "We were impressed with NICE Actimize's strong performance record in implementing cloud-based solutions quickly with large financial institutions, particularly across global organisations."

"As the needs of the securities market evolve, we remain committed to providing cloud-based solutions that enable rapid deployment, offer minimal business disruption, and which ease the burden of regulatory compliance," said Amir Orad, president and chief executive officer of NICE Actimize. 

Comments: (0)