In a significant development for UK financial market regulation, the Financial Conduct Authority (FCA) has selected OneTick Surveillance from OneMarketData, LLC, as its primary market surveillance and visualisation system. The cloud-based service is designed to enhance the FCA’s ability to detect and investigate market anomalies, thereby safeguarding the integrity and orderly function of the UK’s financial markets.
Chosen in a competitive tender process that involved 15 bidders, the OneTick Surveillance platform identifies potential instances of insider dealing and market manipulation, and monitors market disruptions in real-time. Additionally, the service is set to bolster the FCA’s Market Oversight team in supervising the suspicious transaction and order reporting (STOR) regime.Dermot Harriss, Senior Vice President of Regulatory Solutions at OneMarketData, commented: “We’re very proud to provide the FCA with a surveillance solution. The service we’ve built for them is secure, programmable, will dynamically scale to meet increasing market volumes, and will allow the FCA to adapt to new risks to the integrity of our financial markets.”
Originally designed as a cost-effective and user-friendly surveillance solution for smaller firms, OneTick Surveillance has evolved into a comprehensive, cross-asset platform suitable for a wide range of market participants, including asset managers, retail brokers, banks, and regulators. Features include the capability to handle high-volatility periods, browser-based dashboards for alert management, and customisable compliance workflows.
Underpinned by the OneTick proprietary tick database and stream processing platform, OneTick Surveillance supports global equities, options, futures, and FX market data, and delivers configurable built-in alerts for activities such as layering and spoofing, quote stuffing, wash trading, marking the close, and more.
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