Davy, Ireland's leading providers of stockbroking, wealth management, asset management and financial advisory services, has selected SunGard's Protegent Market Abuse solution to help manage market surveillance across its equity and bond trading operations globally.
SunGard's Protegent Market Abuse will provide Davy with analytical tools such as graphical visualizations of market events, news and market data. The solution will also provide a configurable baseline rules and reports library, helping ensure compliance with regulations such as the Market Abuse Directive, including recent European Securities and Markets Authority guidelines (2012/122) "Controls in an Automated Trading Environment," and relevant parts of MiFID.
Ger Knowles, head of regulations and compliance at Davy, said, "It is vital to display corporate responsibility and identify potential market abuse. SunGard's Protegent Market Abuse solution provides the flexibility and functionality that we need to help manage the increasing regulatory requirements to perform timely and exhaustive market abuse surveillance."
Steve Sabin, chief operating officer of SunGard's Protegent business unit, said, "It's crucial that trading participants establish a comprehensive trade monitoring process in order to comply with all of the regulatory requirements, minimize the regulatory risk involved in trading activities and protect their reputation. SunGard's Protegent Market Abuse solution will help Davy identify high risk behaviors that require compliance reviews and respond quickly in advance of and during regulatory and legal inquiries."