NICE Actimize Enhances Its Markets Surveillance Solution to Help Firms Comply with MiFID II Microsecond Requirement for High Frequency Trading
MiFID II, which went into effect on January 3rd, requires firms to
monitor communications and transactions for Market Abuse and sets a
higher bar for High Frequency Trading, requiring such trading activity
to be monitored at the microsecond level. Firms that do not comply with
this stipulation risk fines, or worse, reputational damage if market
abuse goes undetected. To address this, NICE Actimize, a NICE
(Nasdaq:NICE) business and the leader in Autonomous Financial
Crime Management, has enhanced its Market Surveillance Solution
to help firms comply with the MiFID II microsecond requirement, while
improving firms’ ability to detect and mitigate market abuse.
High Frequency Trading (HFT), a type of trading that uses computers to
execute large volumes of orders at very fast speeds, is prone to market
manipulation because programs and algorithms can be easily altered by a
single ‘bad actor’ with malicious intentions. While the volume and
velocity of high-speed, automated trading can make market abuse more
difficult to detect, the resulting impact can be extremely damaging.
Small price manipulations can net enormous profits for an unscrupulous
individual over condensed time periods. MiFID II’s microsecond
requirement was created to address this very problem. NICE Actimize’s
Markets Surveillance Solution enables firms to adhere to the MiFID II
microsecond requirement by:
—
Ingesting transactional and trade records from Order Management and
Execution Management systems at the microsecond level for all High
Frequency Trades, and;
—
Analyzing High Frequency Trading data at the microsecond level to
detect market abuse. The solution uses NICE Actimize’s best-in-class
detection analytics (e.g. for Insider Trading, Ramping, Spoofing,
Layering, Quote Stuffing, Momentum Ignition, Front Running, etc.), and
because the analytics are run on data captured at the microsecond
level, detection accuracy is increased while false positives are
reduced.
“Because High Frequency Trading is executed in extremely high volumes at
extremely rapid speeds, it really demands greater granularity and
precision with respect to monitoring transactions,” said Chris Wooten,
Executive Vice President, NICE. “With NICE Actimize’s Market
Surveillance Solution, firms can have complete confidence in their
ability to comply with the MiFID II microsecond requirement around
monitoring High Frequency Trades, while safeguarding their firms’
reputations from the scourge of market abuse.”
Visit NICE Actimize’s booth #22 at TradeTech Europe 2018 to learn now
NICE Actimize’s Holistic Trade Compliance platform helps protect
financial services organizations by enabling regulatory trade compliance
through automation and intelligence.
About the NICE Actimize Markets Surveillance Solution The
NICE Actimize Markets Surveillance solution provides comprehensive
surveillance capabilities to enable global regulatory compliance across
products and markets. The solution’s proven analytics and flexible data
architecture allow banks to benefit from fully automated surveillance
and end-to-end workflow management, investigation and auditing
capabilities, reporting and dashboards. The solution can be deployed on
premise (Markets Surveillance Enterprise) or in the cloud (Markets
Surveillance Cloud). Fifty-five banks, including eight of the ten
largest banks (based on assets under management) rely on NICE Actimize’s
Markets Surveillance Solution for their global regulatory compliance
needs. More information at https://www.niceactimize.com/compliance/market-surveillance.html.
About NICE Actimize NICE Actimize is the largest and
broadest provider of financial crime, risk and compliance solutions for
regional and global financial institutions, as well as government
regulators. Consistently ranked as number one in the space, NICE
Actimize experts apply innovative technology to protect institutions and
safeguard consumers and investors assets by identifying financial crime,
preventing fraud and providing regulatory compliance. The company
provides real-time, cross-channel fraud prevention, anti-money
laundering detection, and trading surveillance solutions that address
such concerns as payment fraud, cybercrime, sanctions monitoring, market
abuse, customer due diligence and insider trading. Find us atwww.niceactimize.com,
@NICE_Actimize or Nasdaq:NICE.
About NICE NICE (Nasdaq:NICE) is the worldwide leading
provider of both cloud and on-premises enterprise software solutions
that empower organizations to make smarter decisions based on advanced
analytics of structured and unstructured data. NICE helps organizations
of all sizes deliver better customer service, ensure compliance, combat
fraud and safeguard citizens. Over 22,000 organizations in more than 150
countries, including over 80 of the Fortune 100 companies, are using
NICE solutions. www.nice.com.
Trademark Note: NICE and the NICE logo are trademarks or
registered trademarks of NICE Ltd. All other marks are trademarks of
their respective owners. For a full list of NICE’s marks, please see: www.nice.com/nice-trademarks.
Forward-Looking Statements This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including the statements by Mr. Wooten, are based on the
current beliefs, expectations and assumptions of the management of NICE
Ltd. (the Company). In some cases, such forward-looking statements can
be identified by terms such as believe, expect, may, will, intend,
project, plan, estimate or similar words. Forward-looking statements are
subject to a number of risks and uncertainties that could cause the
actual results or performance of the Company to differ materially from
those described herein, including but not limited to the impact of the
global economic environment on the Company’s customer base (particularly
financial services firms) potentially impacting our business and
financial condition; competition; changes in technology and market
requirements; decline in demand for the Company’s products; inability to
timely develop and introduce new technologies, products and
applications; difficulties or delays in absorbing and integrating
acquired operations, products, technologies and personnel; loss of
market share; an inability to maintain certain marketing and
distribution arrangements; and the effect of newly enacted or modified
laws, regulation or standards on the Company and our products. For a
more detailed description of the risk factors and uncertainties
affecting the company, refer to the Company’s reports filed from time to
time with the Securities and Exchange Commission, including the
Company’s Annual Report on Form 20-F. The forward-looking statements
contained in this press release are made as of the date of this press
release, and the Company undertakes no obligation to update or revise
them, except as required by law.
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