Kinetic Partners, the global professional services firm to the asset management, investment banking and broking industries, today announced that it is partnering with Redkite Financial Markets, a specialist provider of market surveillance systems, to offer a comprehensive regulatory and trading surveillance solution.
The partnership, which combines Kinetic Partners' unique expertise in advising on monitoring and surveillance requirements and Redkite's market-leading software, will help firms respond to regulatory pressure to adopt automated, real-time trade monitoring and surveillance. The announcement comes shortly after ESMA's 1st May deadline which required firms to comply with its guidelines on systems and controls in an automated trading environment. This latest guidance reflects the increasing importance that regulators are putting on trade monitoring and analysis, in the wider context of a crackdown on firms' risk management and controls
ESMA's new guidelines mean that now more than ever, firms need to ensure they have robust trading surveillance solutions in place. By working together, Kinetic Partners and Redkite are best positioned to help firms comply with their trade monitoring and analysis obligations and therefore avoid enforcement action.
The partnership is a significant move to strengthen Kinetic Partners' unrivalled experience in assisting firms to improve their trade monitoring and surveillance systems. The highly experienced Kinetic Partners' risk and compliance team includes Monique Melis who led the FSA's transaction monitoring unit for four years and Simon Appleton who spent 13 years at the FSA's monitoring for marketing abuse unit, and a further eight years monitoring for market abuse on a real time basis at a regulated investment exchange. Redkite is the leading, independent markets surveillance solutions provider for the global financial services sector.
Monique Melis, Member, Kinetic Partners, commented: "A key focus of the ESMA guidelines relates to market abuse controls, demanding that asset managers, brokers, trading platforms and exchanges are required to have sufficient tools to allow them to monitor the activities of their participants, and the end users if applicable, for suspicious or illegal activity. Redkite has already implemented a series of market leading actionable alerts, including 'Ping Orders', 'Quote Stuffing', 'Momentum Ignition' and 'Advanced Layering', to ensure financial institutions comply with today's requirements. Kinetic Partners is very much looking forward to working with Redkite on what is increasingly becoming an international markets issue."
Justin Amos, Co-Founder of Redkite Financial Markets, commented: "Kinetic Partners' global reach and specialist markets team has a wealth of experience working with automated market abuse surveillance solutions and we are delighted to be working together. This partnership creates a service offering that really empowers the industry to respond to change through a single combination of regulatory, technological and practical skills to advise, customise and provide solutions to evolving needs."