The Kyte Group Limited (Kyte), an integrated clearing, broking and investment service provider for professional traders and investors around the world, has successfully added systematic market abuse surveillance using the CMC:Suite from b-next, a specialist provider of market abuse surveillance, insider dealing and compliance software solutions.
The CMC:Suite provides Kyte with a library of relevant market abuse scenarios along with workflow and case management capabilities.
The technology addresses the growing importance of monitoring for market abuse across all asset classes and all trading venues. b-next's CMC:Suite solution provides Kyte with the ability to automate the monitoring of all their clients' orders and executions and detect any inappropriate or suspicious trading activity or patterns, for example: wash trading, marking the close and spoofing. The CMC solution provides compliance staff with detailed reporting and investigation tools that enables them to quickly determine if trading rules have been breached.
Peter Green, CEO of Kyte says "b-next's CMC:Suite, delivered on time has been an essential addition to our compliance processes. We pride ourselves on providing a quality service to our clients and recognise the importance of implementing market leading technology to perform surveillance against abusive market practice. Our clients trade a broad range of asset classes across a variety of trading platforms and b-next CMC enables us to monitor trading across all our supported markets and instruments.
Martin Porter, Business Development Director, b-next says "Our goal is to ensure that we are able to deliver compliance solution technology that goes beyond meeting regulatory requirements and provides our customers with reliable systems that offer exceptional standards of trading surveillance. b-next are a team of engineers who work towards this constantly, I am delighted that Kyte is able to further reassure its clients of the high level of technology it implements to deliver secure high quality trading services and compliance processes.
As regulators place continued focus on market surveillance it has become increasingly essential for firms to ensure that their systems are monitoring activity to the highest standards. ESMA guidelines, implemented in May 2012, place specific emphaasis on systematic surveillance and in particular the monitoring of certain abusive practices such as layering and spoofing. By implementing b-next CMC, Kyte will be quickly alerted to any such activity and related information to provision the correction or reporting of such incidents and prevent reoccurrence.
The initial implementation of the CMC:Suite was successfully carried out towards the end of 2012.