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Regulatory oversight platform enhances market surveillance capacity
KX, a worldwide leader in real-time streaming analytics, announced today that the Montréal Exchange (MX), a recognized self-regulatory organization, has implemented its multi-asset trade surveillance solution to combat market abuse and enable further global growth. MX, Canada’s derivatives exchange and a wholly-owned subsidiary of TMX Group, leverages KX Surveillance and its robust trading surveillance, analytics and visualization platform to ingest high volume data — both real-time and file-based — quickly and reliably. This ability, coupled with its flexibility and performance, improves detection quality and accuracy and positions MX’s Regulatory Division for greater operational success and scale.
Fast-paced, evolving trading activities are driving the need for more sophisticated and integrated tools in market surveillance. With KX, the MX’s Regulatory Division can oversee trading conduct and scan hundreds of billions of messages – going back years if necessary – to identify and further investigate suspicious activity. Its configurable alert patterns also take into consideration the characteristics of the Canadian markets, improving MX’s market surveillance. This state-of-the-art support and the confidence it inspires among market participants is an important component of MX’s ability to extend its trading hours and grow its client base internationally, reaching clients across EMEA and APAC.
Julie Rochette, Chief Regulatory Officer, Montreal Exchange: “The Montréal Exchange has an ongoing commitment to maintaining the confidence of investors and the integrity of the Canadian derivatives markets. Through automation, KX Surveillance further enhances the Regulatory Division’s ability to monitor trading activity, identify trading behaviors and patterns, and detect behavioral changes in a timely manner. With it, we’re better able to detect and deter prohibited manipulative or deceptive methods of trading to ensure the integrity of this country’s exchange-traded derivatives market. This surveillance system and database capability enable us to support the scale of operations MX aspires to achieve.”
KX Surveillance is widely used around the world by leading financial exchanges and trading organizations to address complex regulatory requirements, reduce risk, and maximize opportunity. It is powered by state-of-the-art technology that enables it to seamlessly handle MX’s vast data volumes with a minimal footprint. KX’s system is also highly flexible and can adapt alerts for jurisdiction-specific needs and supports sophisticated alert methodologies.
Conor Twomey, Head of Customer Success and Managing Director, Americas, KX said: “KX provides the de-facto technology and framework for fully-informed financial intelligence today. This level of insight breeds improved decision-making and trust which are more critical than ever before. We’re thrilled that the Montreal Exchange has recognized our ability to support them in this way and look forward to expanding our partnership, as well as our overall presence in the Canadian markets.”
KX is the leading technology for real-time data analytics and decision intelligence. Independently benchmarked as the world’s fastest streaming analytics platform, the KX Insights Platform is an industry-leading high-performance, in-memory computing, streaming analytics and operational intelligence platform. It delivers the best possible performance and flexibility for high-volume, data-intensive analytics and applications across multiple industries. The Group operates from 15 offices across Europe, North America and Asia Pacific and employs more than 3000 people worldwide. For more information visit www.kx.com.