Vienna Stock Exchange has signed a five-year-agreement with surveillance technology provider Scila AB, based in Stockholm, Sweden.
The Scila Surveillance system is bound to replace the previous internal surveillance system, providing maximum technical assistance for the upcoming regulatory challenges and the fast-paced exchange trading landscape thereby optimally supporting Vienna Stock Exchange’s market surveillance team. Scila AB is a Swedish FinTech company that provides real-time market surveillance solutions to a wide range of financial industry firms, including exchanges, regulators and trading firms. Under the new agreement, Vienna Stock Exchange will have the option of rolling out the surveillance software to its partner exchange network in CEE, which includes the stock exchanges in Budapest, Ljubljana, Prague and Zagreb.
“Surveillance is a critical part of exchange trading infrastructure. In times of continuously increasing regulatory and trading-specific requirements, we want to secure the highest level of transparency for all market participants. The new surveillance system applies leading-edge technologies and ensures that trading on the Vienna Stock Exchange will continue to be executed in a fair and orderly way. It’s essential to keep our infrastructure up to speed with the latest developments,” says Ludwig Nießen, CTO & COO of Vienna Stock Exchange.
“Vienna Stock Exchange will use our market surveillance solution to prevent market abuse, such as attempted market manipulation and insider dealing. We are happy to welcome another exchange using Scila Surveillance. Since our start in 2008, we have completed over 40 projects in the area of market surveillance. Other exchanges using Scila technology include Deutsche Börse, New York Stock Exchange and London Stock Exchange,” said Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at Scila.