Fidessa Group plc (LON:FDSA), a provider of trading, investment and information solutions to the financial services industry, today announced the launch of its new Sentinel Trading Compliance system.
The main purpose of the solution is to permit asset managers to better consolidate, monitor and control their trading operations and risk.
The novel system seeks to respond to the needs of asset managers that are getting increasingly concerned about the risk associated with trading operations as part of their overall compliance and risk management strategy. Fidessa has forged a partnership with a major asset management client and has developed the new Sentinel Trading Compliance system.
Richard Hooke, Buy-side Product Director at Fidessa, commented:
“Monitoring and controlling trading activity has traditionally been handled by the OMS, but for many large asset managers this approach has become fragmented, difficult to control and insufficient. Working closely alongside a global, tier-one asset management client, we are delivering a single system to centralise control that has robust capabilities to oversee, analyse and impose restrictions on trading practices – something that has not previously been feasible.”
Sentinel Trading Compliance captures and monitors large volumes of transaction-related data in an efficient, configurable and fully auditable workflow. The system identifies unwanted trading patterns, restricts trades by attribute and limits cumulative volumes by counterparty, desk, trader or market. In addition, the system allows asset managers to centralise the monitoring and control of their trading operations across multiple systems, markets and trading desks.
Offering a comprehensive pre-trade API, the solution is OMS-agnostic and comes along with an aggregated, post-trade monitoring suite.
The novel solution fits alongside Fidessa’s existing and widely-used Sentinel Portfolio Compliance system.
“Having been developed closely in partnership with a client, Sentinel Trading Compliance sets a new, high standard for compliance risk systems in the buy-side trading space”, continued Hooke.
“The scalable nature of our solutions also means that it is available to any asset manager, regardless of size. In the current complex and evolving regulatory environment, it is something that no asset manager can risk being without.”
To view the official announcement from Fidessa, click here.