Turkish derivatives exchange TurkDEX has chosen technology firm Aleri’s Coral8 complex event processing (CEP) engine to develop applications for monitoring trading on its platform.
According to Aleri, the applications will allow TurkDEX to deliver a secure trading environment that will help individuals and institutions manager risk better.
On 30 October, TurkDEX set a daily trading volume record of $2.1 billion.
The new surveillance applications offer pattern detection that enables TurkDEX to identify anomalies through real-time monitoring. According to Aleri, the new tools have also enabled the exchange to reduce the operational cost of surveillance and trade monitoring.
“The complexity of the surveillance application goes well beyond basic analysis of market and trade data, with positions, margin requirements and profit/loss continuously recalculated and populated across all accounts at market speeds,” said Abdullah Akoglu, lead development engineer of TurkDEX, in a statement. “The combination of simplicity and power provided by the Continuous Computation Language and the rapid integration capabilities of Aleri’s CEP software gave our developers the critical tools to create the sophisticated applications in extremely challenging schedules to meet regulatory and corporate needs.”