About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Canada’s ITG Implements Cloud-Based Trade Surveillance from OneMarketData

Subscribe to our newsletter

Canadian brokerage Independent Trading Group (ITG) has implemented OneMarketData’s cloud-hosted OneTick Trade Surveillance solution to ensure compliance with regulatory monitoring requirements in the face of the surging volumes and volatility that have accompanied Covid-19 pandemic.

According to Nick Savona, chief compliance officer at ITG, the brokerage outgrew its legacy PositionWatch system, which it continues to use for inventory management, as volumes took off during the spring. The firm set about looking for a scalable and affordable solution that would meet its requirements under MAR and MiFID II, as well as surveillance obligations required by the SEC, Finra and the Investment Industry Regulatory Organization of Canada (IIROC).

Savona says the OMD solution has been in production since September 1, and is helping the firm monitor trading in Canadian and US securities for potential trading violations including data snooping and order layering. At the same time, the solution gives ITG an auditable workflow and a library of alerts with a calibration tool for choosing alert parameters to minimize false positives. Users can investigate the alerts in browser-based dashboards and manage alert workflow to meet their compliance obligations.

The surveillance capability is built on top of the OneTick tick database and stream processing platform, and was selected after evaluation of other competing market-monitoring for trade compliance solutions. ITG’s parent company, Chicago-based DV Trading, is also a OneTick Trade Surveillance client.

Says Savona: “Ongoing regulatory pressure and current market conditions have highlighted how critical trade surveillance is to any firm. We wanted to upgrade our legacy surveillance technology and recognized we needed to work with a partner that could provide us with the cutting edge technology, flexibility and scalability we need to manage compliance for our US and Canadian Equities business.”

The ITG implementation “is our first client in Canada and we look forward to further expanding in the region,” says Dermot Harriss, senior vice president of regulatory solutions at OMD. The company plans to expand its presence in Canada to bring its trading analytics, market data and surveillance solutions to the broader market. For its part, ITG plans to add capabilities to the OneTick implementation, with transaction cost analysis (TCA), order protection and analytics all under consideration, according to Savona.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Best Practices for Managing Trade Surveillance

1 July 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The surge in trading volumes combined with the emergence of new digital financial assets and geopolitical events have added layers of complexity to market activities. Traditional surveillance methods often struggle to keep pace with these changes, leading to difficulties in detecting...

BLOG

LSEG Strengthens AWS Partnership to Accelerate Cloud Transformation Across Key Divisions

The London Stock Exchange Group (LSEG) has extended its strategic collaboration with Amazon Web Services (AWS), naming AWS as its preferred cloud provider for the Markets, Risk Intelligence, and FTSE Russell divisions. The move deepens an existing relationship that forms a central part of LSEG’s broader digital transformation strategy. The latest agreement will see LSEG...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...