Surveillance and Monitoring Through the Looking Glass
Looking ahead to 2013, European regulations are stepping up the need for automated surveillance and monitoring solutions on the buy side, writes SunGard Protegent's, Magnus Almqvist, who says firms must have audit trails and quick answers to questions on suitability and personal dealing.
November 21, 2012
The European Securities and Markets Authority (ESMA) guidelines on automated trading – dictate that anyone using and/or providing direct market access (DMA) needs automated controls and surveillance in place. This, coupled with the buy side’s increased interest in execution, has resulted in the buy side looking at more sophisticated, and in some cases automated, surveillance and monitoring solutions. Spot checks will not be adequate to meet regulator expectations in 2013. Following ESMA’s increased activity and determination to implement uniform interpretation of regulation and enforcement in the region, regulators are stepping up the game with active surveillance of the markets in their jurisdiction and much closer cooperation with their peers across jurisdictional borders. This follows the requirement for better tools, knowledge building, and more actively engaging with the market actors. &... Read full story on Wall Street & Technology
Post a comment to the original version of this story on Wall Street & Technology