Öhman Capital meets the increased regulatory pressure by implementing Scila Compliance from the leader in trading surveillance technology, Scila.
Following the company's success in the trading venue market, Scila now enters the compliance space with its recently developed software, Scila Compliance.
"To be able to continue our successful business, it is very important for us to stay in the forefront and to comply with ESMA guidelines so we are very happy to start this cooperation with Scila" Ronny Jacobsson, CEO at Öhman Capital, says.
Scila has been very successful in the trading venue market, and among the customers are giants such as Deutsche Börse Group and London Stock Exchange Group, as well as local venues; Qatar Exchange; Stock Exchange of Thailand; LMAX among others.
"We find the compliance market very interesting and the need for trading surveillance technology at investment banks and brokers is likely to increase substantially going forward", says Lars-Ivar Sellberg, Scila's Executive Chairman. "Öhman Capital is a very well respected participant in the market, with a long and successful history. We are very pleased to deliver our modern and flexible technology to a broker with such a reputation".
Scila Compliance is built on the same platform as Scila Surveillance. This ensures that important demands from the compliance community are met, such as; performance; redundancy; quality; ease of customisation; ease of deployment and ease of operation. Customers can choose from a hosted solution or having the system deployed in its own environment.
Added functionality in Scila Compliance is an Anti Money Laundering module with specific alert rules for detection of money laundry scenarios, including account transactions. Having all transactional data from todays fragmented market, both trading and cash transactions gives the customers a central system that can be very useful in other areas of the organisation, not only Compliance and Trading Control. Scila Compliance adds value to the whole company, i.e. management and business development.
The alert portfolio is continuously updated according to ESMA Guidelines, MiFID, MAD and other regulatory and legislatively initiatives.
By using automatically generated reports, it is easy to comply with both general transaction-reporting obligations to competent authorities/regulators, as well as suspicious transaction reporting. "With Scila Compliance we now can offer state-of-the-art trading surveillance to a wider range of customers", says Mats Wilhelmsson, COO at Scila. "The user friendliness and flexibility from Scila Surveillance is of course available also in the new product, but since all alert rules are parameterised on delivery, it is ready to do its job from turning on the switch".