Trade Surveillance & Market Abuse

We start from the market-abuse risk assessment, mapping typologies such as insider dealing, unlawful disclosure and manipulation to the desks, venues, products and order flow the firm actually trades. Each scenario traces to a defined risk, and each material risk has a coverage decision.

We recalibrate thresholds and scenario logic using outcome data, backtesting and investigator feedback. Alert volumes are reduced only where detection coverage is tested and preserved.

We build governance around surveillance scenarios: scenario inventory, parameter history, approval records, periodic validation, performance metrics and monitoring. The firm can evidence why a threshold is set where it is and when it was last reviewed.

We deliver communications surveillance across electronic and voice channels, including capture-completeness checks, lexicons, behavioural models and off-channel messaging coverage. Where needed, trade and communications alerts are linked into one investigable view.

We build the capability to reconstruct orders, executions, communications and market context into a single timeline. Data linkage, identifiers, tooling and runbooks are tested through dry runs before a regulator or market event demands them.

We select and implement surveillance platforms against the firm’s actual order flow, asset classes, data quality and tuning needs. We stay through implementation, calibration and go-live until the alert queue is reliable and investigable.