Olivetree Financial , a UK-based multi-asset broker, has chosen NICE Actimize ’s SURVEIL-X Markets Surveillance to keep pace with regulatory change. NICE Actimize’s cloud SURVEIL-X Markets Surveillance solution will deliver upon its financial crime strategy, monitoring market abuse and keeping pace with regulatory change.

Supporting Olivetree Financial’s objectives, NICE Actimize’s SURVEIL-X will be used to monitor more than 15 market abuse typologies. Leveraging NICE Actimize’s SURVEIL-X Markets Surveillance, which is part of the SURVEIL-X Holistic Conduct Surveillance platform, Olivetree Financial will address regulatory obligations across multiple asset classes, including equities, fixed income, foreign exchange, futures, and options, to avoid costly fines, meet regulatory obligations, and preserve their reputation. With visualisation, SURVEIL-X Markets Surveillance identifies potential trading abuse by displaying alerts together with market activity and firm transactions.

NICE Actimize offers an integrated surveillance solution that will help support Olivetree Financial as it expands and provides different product offerings. The partnership will enable Olivetree Financial to refine their detection capabilities even further. What’s the SURVEIL-X Markets Surveillance? NICE Actimize offers a comprehensive approach to markets surveillance challenges.

Their cloud-based approach, with advanced analytics and out-of-the-box coverage, increases efficiency while improving market integrity and transparency. NICE Actimize’s Markets Surveillance solution helps customers meet regulatory requirements, while demonstrating predictive, preventative compliance capabilities to regulators and investors. The SURVEIL-X Markets Surveillance solution incorporates fully integrated case management capabilities, which offers efficient alert management, ad hoc investigation, and audit trail functionality.

SURVEIL-X combines traditional expert rules-based analytics with artificial intelligence-powered analytics and advanced visualisation tools, all on a cloud-native platform. Using the artificial intelligence (AI) technologies, SURVEIL-X can discover all related market manipulation actions, and automatically piece them together in a single alert, helping firms with true risk detection and compliance analysts with clearer understanding. According to NICE Actimize’s brochure, SURVEIL-X can uncover risky behaviour to insulate a firm from fines and reputational damage while ensuring complete compliance with MAR, Dodd-Frank, MiFID II, Regulation Best Interest (Reg BI), and other current and future regulations.

SURVEIL-X offers risk coverage for buy- and sell-side firms, insurance companies, crypto exchanges and more, by enabling accurate detection and thorough investigation of market abuse, inappropriate sales practices, conduct risk, and otherwise undetectable compliance risks. What is market abuse? The term ‘market abuse’ is given when a person or group of people act to disadvantage other investors in the market. Both regulators and market participants are fighting back by applying trade surveillance technologies to curate data, detect illicit trading, support investigations, and reduce false positives.

In recent years, the attention of the European and Belgian supervisory authorities has been shifting more and more towards the prevention and detection of market abuse. In 2020, the Belgian supervisory authority, Financial Services and Markets Authority (FSMA), distributed a letter to the financial institutions under its supervision. It emphasised the importance of the detection and declaration of suspicious orders and transactions under the Market Abuse Regulation (‘MAR’).

It also highlighted the need to formulate good practices with regard to the internal control environment. Following the increase in scrutiny from the Belgian regulator and the changes in both the workplace and trading environment, market abuse remains a hot topic. Considering these, financial institutions should consider performing an in-depth review of their internal control environment to face the current and future challenges and risks of market abuse.

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