UK-based broker Execution Noble has selected trade monitoring firm RedKite Surveillance’s Redeye trading surveillance solution, initially for use in its pan-European equities trading operations. Plans are in place to extend geographic coverage later in the year.
“In the post-MiFID environment, with the proliferation of trading venues and the growth of algorithmic and high-frequency trading, our ability to efficiently, cost effectively and flexibly monitor our trading operations is essential to maintaining our competitive advantage,” said Damien Devine, global COO of Execution Noble, in a statement. “Redeye will support the complexity and sophistication of our trading activities and help us to continually adapt to changing market conditions and regulatory requirements, which is essential to our long-term relationships with our global client base.”
RedEye is designed to prevent and detect erroneous trading patterns in real time, employing customisable analysis and alerts. “These solutions will enable Execution to monitor instances such as insider trading, based on real-time news sentiment analysis, market abuse, cross-market manipulation and trade activity that focuses on influencing market closing prices,” said Justin Amos, managing director, Redkite Surveillance.