Convergex has deployed Ancoa’s market surveillance platform to monitor all trading activity across its US and international cash equities and options brokerage businesses.
Ancoa’s platform will monitor activity on Covergex’s lit and dark venues including Millennium and Convergex’s proprietary alternative trading system.
The decision to adopt Ancoa’s technology followed a rigorous due diligence and vendor review process, Convergex said.
“Ancoa’s surveillance capabilities and strong visualization tools enable Convergex’s global management team to carry out its oversight functions in a coordinated and efficient way,” the firm added.
Amazon Web Services will host the technology, ensuring cyber security at Convergex is managed at ever level in an efficient way.
Stefan Hendrickx, chief executive officer at Ancoa, explained the firm understands the regulatory pressures to prevent market abuse and uphold market integrity.
He added that Ancoa tailored the platform to suit Convergex’s needs and is confident of its monitoring capabilities.
“[Ancoa] will enable compliance teams to fulfil their regulatory and surveillance obligations with confidence and also provide valuable insights to the Convergex management team,” he said.