First Derivatives PLC ASIC goes live with new surveillance system
November 26 2013 - 2:01AM
RNS Non-Regulatory
TIDMFDP
First Derivatives PLC
26 November 2013
First Derivatives plc
("First Derivatives" or the "Company")
ASIC goes live with new surveillance system - First
Derivatives
First Derivatives (AIM: FDP.L, ESM:FDP.I), a leading provider of
software and consulting services to global investment banks,
brokers, hedge funds and exchanges, today announces the successful
implementation of its market surveillance system at the Australian
Securities and Investments Commission (ASIC).
The custom-built system, based on First Derivatives' Delta
Stream(TM) technology, leverages its existing high performance
algorithmic trading infrastructure that will allow ASIC to conduct
multi-market supervision across futures and equities in real time,
providing the regulator with new capabilities in identifying fraud
across and between different markets.
The speed of the system also provides ASIC additional
flexibility in its analysis, with the time taken to produce some
reports reduced from several hours to less than one minute.
First Derivatives' Director APAC, Rob Hodgkinson, said the
implementation of the system had run on time and to budget since
being announced in December 2012.
"We're very pleased with the way the project has run. ASIC now
has the tools needed to monitor the market in a very sophisticated
way," he said. "Globally, regulators face issues in being able to
keep up with the speed and sophistication of their own markets,
which is obviously a huge problem if you're trying to police the
market effectively. The system designed for ASIC puts it at the
head of the pack in terms of their capabilities as an effective,
evidence-based regulator."
ASIC's Senior Executive Leader of Market and Participant
Supervision, Greg Yanco, said ASIC's decision to implement the new
system had yielded very positive results.
"We made the decision to upgrade our systems in response to new
developments in the trading environment," he said. "Given the
dynamism of the market environment, we wanted a system capable of
capturing and analysing data from all our participants on all
markets in real time. With this implementation we can identify
questionable activity straight away and act upon it much
quicker."
For further information please contact:
First Derivatives plc +44(0)28 3025 2242
Brian Conlon, Chief Executive www.firstderivatives.com
Graham Ferguson, Chief Financial
Officer
Charles Stanley Securities
(Nominated Adviser) +44 (0)20 7149 6000
Russell Cook
Carl Holmes
Goodbody Corporate Finance
(ESM Adviser) +353 1 667 0420
Diane Hodgson
Linda Hickey
Walbrook PR +44 (0)20 7933 8780
Bob Huxford firstderivatives@walbroopr.com
Helen Cresswell
About Delta Stream(TM)
Delta Stream(TM) is in use at banks, hedge funds and securities
companies across the world, meeting a range of business challenges
including monitoring market-makers at Singapore Exchange (SGX). It
is one of First Derivatives' world-class, flagship applications
within its Delta suite, a powerful "Big Data" platform, offering
capabilities in reference data management, market data management,
CEP, algorithmic and high-frequency trading, FX trading, treasury
risk management and exchange management and surveillance.
About First Derivatives
First Derivatives is a global provider of software and
consulting services to the financial services industry. The Delta
suite, powered by kdb+, is the distillation of thousands of man
years of experience of working with leading innovators in the
financial markets and Silicon Valley. First Derivatives currently
employs more than 850 people worldwide and has many of the world's
top investment banks, exchanges, regulators, brokers and hedge
funds as its customers. It has operations in London, New York,
Stockholm, Singapore, Toronto, Sydney, Dublin, Newry and Hong
Kong.
For further information please visit
www.firstderivatives.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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