SEC Compliant Surveillance Solution & Time to Market


A US-based NMS exchange was preparing for the launch of their new trading system in advance of RegNMS. The SEC market surveillance requirements were an absolute prerequisite prior to go-live and the delivery risk associated with the original surveillance solution became apparent very late in the project lifecycle. With only five weeks remaining until go-live, the exchange faced a critical decision of either delaying the launch or looking at alternative solutions.

The exchange turned to the Enodia Financial Technology complex event processing solution to meet the minimum SEC go-live requirements which included algorithms for the following:

         Block trades


         Painting the tape

         Short sale

In the space of five weeks, a complete surveillance platform was built, deployed, delivered, and certified such that the exchange was able to launch on-time and provide the internal tools for satisfying regulatory requirements.

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