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November 06, 2008

NICE Intros Actimize Trading Interaction Surveillance Solution to Monitor Market Abuse

By Susan J. Campbell, TMCnet Contributing Editor

NICE Systems, a global provider of advanced solutions designed to enable organizations to extract Insight from Interactions to drive performance, has introduced the financial industry’s first cross-channel Trading Compliance Solution, the Actimize Trading Interaction Surveillance Solution.
This new solution offers the combination of insight from transactional data with voice analytics to meet growing regulatory requirements for monitoring of market abuse, insider trading and other regulatory issues.

Under one unified view, the Trading Interaction Surveillance Solution automates and enhances trading surveillance and the effectiveness of regulatory investigations to reduce the risk and operational costs, ultimately delivering a fast ROI. 

Regulators around the world demand more from financial institutions when monitoring and investigating insider trading and market abuse. Increasing requirements include identification of relevant phone calls and transactional surveillance such as the Market Abuse Directive (MAD), MiFID and upcoming new requirements from the U.K.’s FSA. 

The solution provides monitoring that for the first time captures related voice conversations in addition to trading transactions. With the new Trading Interaction Surveillance Solution, compliance officers will be able to improve processes and achieve broader and more effective cross-channel surveillance and investigations.

By monitoring market abuse and other activities such as conflict of interest, regulators will be able to achieve more effective cross-channel surveillance. The solution also delivers automatic alerts on the contents of calls relating to a specific trade, which can now be integrated with the transactional alerts that are already provided by the Actimize Market Abuse Surveillance Solution.

Investigation processes can be improved as compliance officers will be able to identify suspicious trades and immediately locate those calls relating to specific trades or incidents. The new solution enables tying together the transactional data with the data provided by the contents of the call.

This innovative solution is positioned as reducing risk, delivering more effective use of labor and other resources, lowering costs, and significantly reducing the time needed to respond to regulatory inquiries.

As regulations demand greater oversight of multi-channel trading activities, including phone calls and trades, this new solution will offer a more elegant, comprehensive, and effective answer to those needs.

"The need to meet regulatory requirements and fight financial crime continues to be relevant and even critical in these volatile times," said David Sosna, CEO of Actimize, a NICE Company, in a Thursday statement. "Clients have been telling us that this unique offering can help them improve research and surveillance processes, enhance operational efficiency, and reduce costs. The product received positive feedback at our recent Client Forums in New York and London where we showcased this integrated solution for the first time."

The ability to tie calls to suspicious trades not only delivers benefits to those that are trying to regulate the activities of the industry and protect the interests of market stakeholders as a whole, it also protects the honest trader. When a potential red flag emerges, the related phone call could prove a person’s innocence as much as it could prove guilt. Such a tool will deliver considerable value to the industry.

Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users.


Susan J. Campbell is a contributing editor for TMCnet and has also written for To read more of Susan's articles, please visit her columnist page.

Edited by Mae Kowalke

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