News
Northland Enhances Trade Surveillance Module
January 2011 by Marc Jacob
Northland Solutions has announced the launch of its latest release of Compliance Alert Trade Surveillance. This release leverages the power of Fidessa’s global market data and has been developed due to market demand for a cost effective solution that addresses existing and evolving regulatory requirements. It includes both a ’Fast Start’ option and additional Rule Packs.
The FSA reports that it is currently prosecuting 11 people for insider trading and has convicted 6 people since March 2009. It has levied approximately £85 million ($135 million) in fines in 2010 which is up £50 million from last year. The agency hadn’t prosecuted a criminal insider- trading case before 2008.
Many compliance executives are struggling with their budgets and lack of skilled officers. Their challenge is that, with the MAD revisions in December 2010 and the MiFID revisions due this month, they are going to have to respond very quickly. Some in-house solutions are being used as a stop-gap but these will not have the inbuilt knowledge that packaged systems bring to the business. Northland’s Trade Surveillance module is a solution leveraging Fidessa’s consolidated market data and the client’s inherent trade data. This becomes a compelling proposition as it operates across multiple venues and multiple asset classes without incremental cost.
