NFEx Markets Ltd, the new London-based market for base metals trading has signed a contract with Scila AB the Stockholm-based fintech company, to implement Scila Surveillance, a market surveillance solution designed to identify insider trading and market manipulation in real time, protecting end investors and strengthening confidence in the financial markets.
Scila provides market surveillance solutions to a wide range of financial industry firms, including exchanges, regulators and trading firms. Exchanges using Scila technology include Deutsche Börse, New York Stock Exchange, London Stock Exchange and a wide range of regional and specialized market places in Europe and globally.
Swift, in-depth market surveillance is one of the key requirements we have for the NFEx platform,” commented Mark Bradley, COO, NFEx Markets. “After extensive examination of the various solutions on offer, we are pleased to have identified, and contracted with, Scila and look forward to working with them to achieve an efficient implementation of the Scila Surveillance product into our own systems.
NFEx Markets is investing in proven technology deployed for over 35 customers since 2008. Scila systems are flexible, cost-effective and come with a large suite of functionality which is used to prevent market abuse and monitor markets in real-time. We look forward to a long partnership with NFEx “, said Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at Scila.