Smarter surveillance technology for banks and brokers

A new multi-asset monitoring and trade surveillance system for investment banks and brokers, Scila Compliance, was launched in May. The technology builds on Cinnober’s success with trade surveillance in exchanges. “Our surveillance track record supports our aggressive growth plans for Cinnober,” says Javier Tordable, CEO. “Since it was launched three years ago, Scila Surveillance has won almost every competitive procurement for exchange surveillance. It’s now time for banks to have the same access to a more flexible, quicker and smarter technology.

With tailored alerts and reports, Scila Compliance provides market participants an efficient way to ensure they act in accordance with regulations, market rules and their own internal principles and risk policies. The solution can also be used for performance measurements, aggregated position monitoring, and as an extensive statistical and reporting tool.

The new solution offers the ability to customize reports using GUI-based tools as well as write their own alert rules. It is also capable of monitoring HFT applications, provides a second opinion on their performance, and offers functionalities for anti-money-laundering and transaction reporting obligations to authorities.

We think that a great trade surveillance system should do more than just keep you out of trouble,” says Tordable. “You should also be able to leverage large amounts of business data and actually improve your trading operations. Scila Compliance provides a corporate dashboard for benchmarking trading operations and uncovering new business opportunities.

Scila Compliance is easily adapted to rules and reports suited to particular market environments. Standard and open technologies make it easy and cost-efficient to deploy, implement and maintain.

Our main focus is to take the pain out of compliance for investment banks and brokers,” says Mats Wilhelmsson, COO of Scila. “Our customers have access to a proven and flexible technology with short time-to-market. Delivery times for Scila Compliance are measured in weeks, not months. And implementing a change takes days, not weeks.

Scila Compliance is part of the same suite of tools as Scila Surveillance, a multi-asset real-time surveillance system for exchanges and marketplaces launched in 2009. A total of nine markets, including giants such as Deutsche Börse and Eurex, have chosen Scila Surveillance to monitor trading in instruments as diverse as equities, futures and options, CFDs, FX, and energy contracts.