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Thomson Reuters partners with b-next to offer improved Accelus Market Surveillance solution

Thomson Reuters is partnering with b-next to offer the buy and sell-side a solution to better monitor their firm’s trading activity, in advance of incoming regulations such as the new Market Abuse Regulation (MAR) from European regulators, US Dodd-Frank rules covering reporting, and the EU Markets in Financial Instruments Directive (MiFID) II, among others.

b-next’s systematic surveillance capabilities have been joined with Thomson Reuters’ market data, news analytics and managed services to create the improved Accelus Market Surveillance solution from Thomson Reuters. The enhanced product is intended to provide a complete market abuse monitoring and alert management solution covering a broad range of exchange traded and over-the-counter (OTC) traded asset classes, which are of course undergoing their own regulatory revolution under Dodd Frank and the European Market Infrastructure Regulation (EMIR). Suspicious trading, price manipulation and insider dealing will also be targeted by the new surveillance system, which has already been ordered by an unnamed European bank claim the partners.

Financial institutions (FIs) are under greater pressure to implement systematic surveillance across all trading activity irrespective of instrument type, traded market or exchange venue, under the impact of the impending tide of regulatory changes, which is why Thomson Reuters is obviously optimistic about winning more new business in this area.

A claimed global capability is asserted thanks to what is described as “a comprehensive and customisable collection of market abuse detection scenarios, allied to broad asset class coverage and Thomson Reuters’ depth of market data and news feed content”. The scenarios use tick data from the data vendor’s Tick History offering, which is a repository of tick data across global exchanges and asset classes and should provide a good database for spotting past malfeasance patterns. The solution can be specified as part of the Thomson Reuters Eikon for Compliance Management product suite, which can link with audit investigations.

Thomson Reuters’ enhanced Accelus Market Surveillance solution is delivered as a managed service to enable trading firms to scale their businesses as required by demand levels and forms part of the over-arching Elektron Managed Services offering, which can be accessed globally via strategically located co-lo data centres.

Commenting on the launch, Martin Porter, UK Director of b-next, said that: “Continuous pressure and ever increasing obligations to regulators require firms to systematically monitor trading activity and report any suspicious trading. Accelus Market Surveillance meets this requirement. We are pleased to have already completed our first joint customer implementation at a major European bank within weeks of confirming our partnership.”

According to Miftah Khan, global head of trading compliance and disclosures at Thomson Reuters, trading compliance managers are looking for a more integrated, flexible, cross-asset trade surveillance solution, and he naturally thinks his firm’s new launch can meet this need, citing “Accelus Market Surveillance’s combination of compliance, market data, and managed service capabilities. This multi-disciplinary approach will enable firms to minimise risk and demonstrate a more visible culture of compliance within their organisations,” he concludes.

• For more about the capital markets arena and the profound regulatory and market changes happening, please read the bobsguide blogger (aka contributing editor) submissions curated by Courtney Doyle McGuinn at FIX and the 2013 Mondo Visione Exchange Forum show report.