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SunGard Solution Helps Detect Market Manipulation, Insider Trading

GRC Announcements | May 29, 2012

SunGard has extended the capabilities of its Protegent solution suite to help regulators, trading venues and firms monitor, detect and resolve market manipulation and insider trading activities.

New features include a rules library that supports compliance with Guideline 2012/122 of the European Securities and Markets Authority (ESMA) or “Systems and controls in an automated trading environment for trading platforms, investment firms and competent authorities."

“The need for improved surveillance is largely being driven by the trend toward automated trading and the migration of more asset classes onto exchanges," said Rebecca Healey, senior analyst at TABB Group. "Technology like SunGard's Protegent can help firms comply with the latest rules, scale for increased trading volumes and monitor activity across regulatory jurisdictions, regions and asset classes.”

SunGard's Protegent supports the ESMA mandate for real-time, cross-market surveillance by analyzing orders, trades, positions, historical data and market data from multiple trading venues and regions in real time. Users can analyze trading patterns across single or multiple asset classes and trading venues. Protegent also helps firms detect and act on specific behaviors outlined by ESMA, including suspicious manipulative activities such as “quote stuffing,” “momentum ignition,” “layering” and “spoofing.”

“It's crucial that trading participants establish a comprehensive trade monitoring process in order to adhere to regulatory requirements such as ESMA's latest guidelines, and minimize the regulatory risk involved in trading activities while protecting their reputation,"said Steve Sabin, chief operating officer of SunGard's Protegent business unit. "SunGard's Protegent helps customers identify high risk behaviors that require compliance reviews and respond quickly in advance of and during regulatory and legal inquiries.”

Installed on the customer's site or hosted by SunGard, Protegent can be deployed regionally or globally.