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EToro selects Nice Actimize Surveil-X to guard against market manipulation

Source: Nice Actimize

Offering a wide range of solutions protecting digital financial services, NICE Actimize, a NICE (Nasdaq: NICE) business and the leader in Autonomous Financial Crime Management, was selected by eToro, the global, multi-asset investment platform, to implement the SURVEIL-X Markets Surveillance solution.

Focused on providing access to global financial markets, eToro currently has a collaborative community of more than 13 million registered users located in more than 100 countries.

Leveraging NICE Actimize’s SURVEIL-X Markets Surveillance solution, an integral part of its SURVEIL-X Holistic Surveillance suite, eToro will augment its critical compliance infrastructure to guard against market manipulation and ensure compliance across its trading products, targeting support for equities, commodities, ETFs, CFDs and more. eToro will also utilize NICE Actimize’s industry-leading case management capabilities providing robust evidence of a strong and repeatable compliance process.

The NICE Actimize SURVEIL-X Markets Surveillance application enables securities trading firms like eToro to quickly and cost effectively detect sophisticated forms of market manipulation including pump and dump, layering and insider trading. Also important, SURVEIL-X Markets’ configurable rules engines reduce false positives and costs by enabling firms to tailor alert thresholds to their customers’ trading activity.

Offering premium surveillance capabilities without the expense of on-premise solutions, the SURVEIL-X Holistic Surveillance cloud-native suite offers faster deployment; reduced infrastructure; operational, training and maintenance costs; hassle-free upgrades; seamless scalability; improved resiliency and security.

“As a global, multi-asset investment platform, we are committed to providing a reliable, fully compliant brokerage experience, protecting customer assets while offering full transparency and meeting the needs of global regulators,” said Avi Sela, COO of eToro. “To accomplish this, we chose financial markets compliance innovator NICE Actimize to provide solutions which address the rapidly changing landscape. We required a solution that would adapt to the broad range of emerging assets we offer, and NICE Actimize was the choice which had the adaptability to meet our current and future needs.”

“As we serve the global investment community, we provide broad, consistent global coverage via standard models for equities, fixed income, foreign exchange, swaps, futures and options along with ease of deployment and seamless scalability,” said Chris Wooten, EVP, NICE. “With more than 12 years’ experience implementing OTC instrument markets surveillance, our out-of-the-box detection scenarios provide superior analytics that have been successfully implemented by numerous top tier global clients. We recognize eToro’s commitment to the highest standards of customer safeguards and are excited to provide its global investment platform secure and cost-effective protection.”

NICE Actimize’s SURVEIL-X Markets Surveillance application provides a comprehensive package of surveillance models that enables global regulatory compliance across products and markets. The solution’s proven analytics capabilities offer fully automated surveillance and end-to-end workflow management, investigation, audit and reporting/dashboard capabilities.

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