Holistic Trader Surveillance

Global banks have been plagued by a series of catastrophic events. From unauthorised trading cases – such as Jerome Kerviel and Kweku Adoboli – to FX and Libor rate rigging, each case has demonstrated that the traditional methods used to monitor employees working on the financial markets are not fit for purpose.

Many banks rely heavily on rules-based techniques to generate control reports; these have resulted in operational inefficiencies with high levels of false positives and failure to find the ‘needle in the haystack’. Recent attempts to link controls together proved effective conceptually but resulted in data duplication and costly implementations and fixed detection models that soon became outdated.

Quantexa use entity and network analytics technology to create a holistic view across all internal and external data, from existing key risk indicator and control reports, trade and order data, to pricing and company hierarchy data. We apply business logic to look for known behaviours and complement this with a series of analytical and behavioural profiling methods to help detect unknown behaviours. In addition, there is an urgent need for banks to be able to explore data and to build their own analytics as and when the landscape changes. In response to this, we have built our technology on an open architecture allowing your data scientists to interact directly with the linked data, and to be able to respond to the changing landscape. This ensures that the cost of implementation and on-going management is reduced. Our approach has proven effective at finding unauthorised trading, market manipulation, insider trading and counterparty risk.

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