Invast Global, a multi-asset prime brokerage based in Sydney and Hong Kong, has selected OneMarketData’s OneTick Surveillance solution to monitor FX, equities, commodities and futures. To find out more about the implementation, we talked to Invast chief operating officer Nick Briscoe.
Outlining the problem Invast was facing, Briscoe says: “Simply put, our previous market surveillance capability was starting to reach its limitations in terms of coverage and capacity given the growth in our business. Over the past 18 months in particular, we have seen a significant increase in our client numbers, total trade volumes and the volume of orders generated across our global equities product and this has necessitated a more scalable and automated solution to meet these demands.”
The company carried out a competitive assessment process across various potential solutions and providers before selecting OneMarketData. The primary decision making factor was the ability for the selected package to provide a genuinely robust, scalable and fully integrated market surveillance platform that meets or exceeds the demands of global regulatory agencies both now and into the future.
Secondary considerations were the integration processes with Invast’s various order management systems (OMS) and across asset classes, service and support, ease of use of components that compliance, risk and trading personnel use, and the usual commercial considerations for the business.
Briscoe says: “While some of the considerations can only be proven over time, OneTick provided the best overall solution for our business in each of the criteria we assessed. We continue to be impressed by the service levels of OneMarketData as an organisation and are looking forward to continuing to build our relationship with them.”
The initial rollout of OneTick will cover Invast’s global equities product, providing surveillance of all trade flows via a fully hosted solution that is integrated directly with the company’s equity OMS via FIX. It is anticipated that this will be the first phase of the relationship with a rollout across other listed and OTC asset classes likely to occur at a later date.
Briscoe comments: “Fundamentally, OneTick is going to give us the market surveillance capacity and automation we need to support and protect a growing business. It is also giving us a future capability to work across all asset classes in one consolidated surveillance platform with the automation required to do this in a comprehensive, compliant and cost effective manner.”
Ross Dubin, senior vice president and global head of sales at OneMarketData, adds: “Ensuring controls and surveillance procedures are in place has become critical as trading requirements become more complex. OneTick Surveillance provides clients like Invast Global with a consolidated view of all activity being carried out.”