Securities and Exchange Commission, SEC, in Bangladesh selected Trapets InstantWatch as the country builds up a modern market surveillance. The prestigious order is Trapets first in Asia.
Bangladesh Capital Market Authority (SEC) chose Trapets InstantWatch Market after a careful evaluating of 6 leading surveillance systems. InstantWatch is one of the market leading systems in Europe and it is used by a large number of banks, stock exchanges and other trading platforms to monitor trade of financial instruments.
"We are proud to have won this order in a very professional procurement. It proves that our system holds top international class. This will also be an important reference order that hopefully will lead to more business in Asia. The project is carried out together with two local partners, Chella Software in India and CIBL Technology in Bangladesh", said Gunnar Wexell, chairman of Trapets AB.
InstantWatch is a very powerful platform for automatic transaction surveillance and compliance. It is used to detect i.e. insider trading and market manipulation. Every day more than 6 billion pattern analyses are carried out on 400 million transactions in InstantWatch.
Bangladesh has 170 million inhabitants approximately, several million shareholders and two stock exchanges.
"With InstantWatch from Trapets we hope we will significantly increase our ability to detect market abuse. It will make things much easier for us, signalling to investors that we strengthen market surveillance in Bangladesh which is essential to our work to increase confidence in the capital market sector in Bangladesh”, said Md. Saifur Rahman, Executive Director at SEC Bangladesh.