The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

Convergex Implementation Shows Ancoa’s Global Value

Trading services and solutions provider Convergex has implemented an Amazon Web Services (AWS)-hosted market surveillance platform provided by Ancoa, gaining a “one-stop shop” for surveillance of trading activity in both the US and internationally, according to Ann Neidenbach, chief information officer at Convergex.

Convergex’s US team has been using Ancoa’s platform for about six months, while its London-based international trading office began implementing the platform late in the fourth quarter of 2016, adds Neidenbach.

“We were excited that Ancoa ran in AWS, in the cloud, because that gave us the ability to scale as we expanded markets or even scale back if we wanted to change or reduce the number of markets we were monitoring,” she says.

The strength and sophistication of visualisation and front-end capabilities on the Ancoa platform attracted Convergex, and have been effective in operation, according to Neidenbach. “It’s a much better, more sophisticated tool for our compliance team to use and leverage,” she says. “There is integration between the asset classes, equities and options, but also integration with case management. With the strong visualisation tools, when sifting through a lot of data, it’s sometimes easier to see a ‘hotspot’ than something in more tabular form.”

Convergex’s implementation of the Ancoa surveillance platform is a first step toward moving its entire data center footprint into the cloud, adds Neidenbach.

Lastly, the way Convergex is implementing the platform to surveil markets worldwide demonstrates its value across multiple markets globally, according to Stefan Hendrickx, executive director of Ancoa. “Convergex compliance teams are using us on both sides of the Atlantic,” he says. “There are a number of challenges complying with both European Market Abuse Regulation, US FINRA and other relevant regulations. It’s a broad area of coverage and there are different requirements for different compliance offices and jurisdictions. … We want to help our clients meet deadlines and requirements with confidence.”

Related content

WEBINAR

Recorded Webinar: Approaches to migrating market data to the cloud to drive agility in trading operations

Market data in the cloud is an attractive proposition in terms of reducing the cost of on premise servers and storage, and moving into a more agile and flexible data delivery environment. It is also well suited to working from home, the fall-back of many financial institutions during lockdowns caused by the coronavirus pandemic. But...

BLOG

ACI Webinar to Debate Regulatory Impact on Algo FX Trading

Recent regulatory initiatives have focused on the growing use by foreign exchange market participants of strategies and models long considered mainstream in listed securities markets, particularly equities. To help practitioners get to grips with these developments, the ACI – global association for FX market professionals, will host a webinar on March 4 to discuss the...

EVENT

RegTech Summit New York City

Now in its 5th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Seventh Edition

Sourcing entity data and ensuring efficient and effective entity data management is a challenge for many financial institutions as volumes of data rise, more regulations require entity data in reporting, and the fight again financial crime is escalated by bad actors using increasingly sophisticated techniques to attack processes and systems. That said, based on best...