Bangladesh Securities and Exchange Commission (SEC) has added Trapets InstantWatch, an automatic transaction surveillance and compliance market surveillance system to meet the financial sector’s challenges in the country.
According to the Swedish technology provider, InstantWatch is used by various banks, stock exchanges and other trading platforms in Europe to monitor trade of financial instruments.
SEC Bangladesh executive director Saifur Rahman said, "It will make things much easier for us, signalling to investors that we strengthen market surveillance in Bangladesh which is essential to our work to increase confidence in the capital market sector in Bangladesh."
The system keeps a tab on insider trading and market manipulation, thus bolstering the financial security of both companies and their clients, the company said.
It analyses flows of transactions such as trades, orders and prices from stock exchanges, and alerts as per a configurable rule system, in real time.
According to an estimate, InstantWatch carries out more than 6 billion pattern analyses out on 400 million transactions, daily.
Trapets caters complete technology, from systems and support to expert consulting and training, for automatic transaction surveillance and compliance for the global finance industry.