Commentary

Brett Cenkus
Traders Magazine Online News

President Trump Won't Kill America, Bitcoin Will

In this blog, the author examines how the global cryptocurrency adds one more piece of the pie to a radical shift in the structure of worldwide governance.

Traders Poll

Would the creation of a single central regulator in Canada affect your inter-listed trading strategies?




Free Site Registration

December 14, 2007

FSA Looks to Take a Bite Out of Crime

By Nina Mehta

The United Kingdom's securities industry regulator, the Financial Services Authority (FSA), will use Progress Software's Apama event processing platform to expand its fraud detection capabilities. FSA's new Surveillance and Automated Business Reporting Engine (Sabre II) is being built and managed by Detica, an IT services company, to perform two functions.

First, Sabre II will be used to monitor transactions reported to the FSA under the Markets in Financial Instruments Directive. Second, the FSA will use Sabre II to expand its effort to identify potential market abuse, including wash trades and insider trading. With Apama's software and analytical tools in hand, the regulator will be able to identify news leaks about impending takeovers, search for collusion between traders designed to generate trading volume in a stock, and so on.