OneMarketData, LLC, today announce that a leading introducing and executing brokerage firm has adopted the OneTick Market Surveillance Service, a hosted solution created by OneMarketData in partnership with Fundamental Interactions, Inc., to perform intraday trade surveillance for regulated entities.
The OneTick Market Surveillance Service delivers an integrated, real-time examination of Order Flow for Regulated Entities supporting end-to-end breach detection, alert workflow management and historical replay activities. The solution is a service that can handle the secondary trading compliance and surveillance needs of all market participants including brokers and market makers for all asset classes.
Built on top of the OneTick proprietary tick database and stream processing platform, OneTick Market Surveillance is comprised of pre-built, configurable alert rules and monitors along with the tools and user interface to manage, track and audit alerts. Surveillance alerts are built as OneTick query models. The OneTick platform provides a modeling tool for the rapid design, development and deployment of custom surveillance alerts.
OneTick Market Surveillance comes with a built-in set of Alerts designed to meet the needs of introducing and executing brokers. These include:
- Layering & Spoofing
- High/Unusual Volume Detection
- Quote Stuffing
- Order-to-Cancel Ratio
- Marking the Close
- Wash Trading
Additionally, OneTick Market Surveillance supports the surveillance and compliance needs of market makers:
- Compliance for continuous quoting
- Locked/Crossed markets
- Maximum quote width and quote size
- Cross instrument/cross market manipulation
- Momentum ignition detection
Alert workflow delivers the ability to capture, store, track and audit each surveillance alert. Alerts can be visually inspected and historically traced back to the offending conditions. Reconstruction of orders, fills and market events that led to the possible infraction are replayed. This allows compliance personnel to investigate the alerts and judge accuracy and severity. Alert status is modified by a compliance officer and persisted back into OneTick allowing for reporting and future retrieval.
“We are pleased to have our first production user of our Market Surveillance Service, an introducing and executing broker serving active traders, funds and market makers. Adapting the OneTick platform to handle market surveillance requirements involving dense amounts of market data, orders, executions and sometimes elaborate compliance rules is an ideal use for OneTick. We look forward to adding more firms of all types including brokers and market makers onto the service,” says Richard Chmiel, Senior Vice President at OneMarketData.
“The integration of Fundamental Interactions and OneTick into the OneTick Market Surveillance Service means that market participants are able to obtain smart order routing, pre-trade and post trade compliance all from one source,” says Shawn Sloves, CEO of Fundamental Interactions. “Because of the interdependency of all three functions - smart order routing, pre trade compliance, post trade compliance, the efficiencies and economics of sourcing those functions from one integrated, hosted platform are compelling and obvious.”