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ASIC to deploy First Derivatives’ market surveillance system

The Australian Securities & Investment Commission (ASIC) has decided to implement First Derivatives’s Delta Stream+ Market Surveillance system to boost its capabilities and tackle market abuse.

Based on the agreement, First Derivatives will design, build and host ASIC’s new market surveillance system, which is already being used by financial organizations for market data capture, alerts and analytics and high frequency and algorithmic trading.

The new technology will allow Australian market watchdog to manage the integrity of its financial markets through the prevention, detection and deterrence of market misconduct, and monitor all types of trading across markets as well as in different products.

It will also enable ASIC to prepare for future changes, including increased message traffic, new technologies, amplifying competition between trading centers and the increased globalization of capital markets.

Built with strong security capabilities to preserve ASIC’s data, the technology will improve the commission’s functionality required for the market in the country, and flexibility for a changing trading environment.

Selection of First Derivatives was taken after a competitive tender process as well as a complete evaluation process to check the capabilities of the new system in Australian setting.