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FCA eyes market surveillance SaaS refresh with £3.5m contract

Published by The Stack
October 06, 2021 @ 12:00 PM

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FCA eyes market surveillance SaaS refresh with £3.5m contract

fca market surveillance

The UK’s Financial Conduct Authority (FCA) is going to market with a £3.5 million tender for updated market surveillance software that it hopes will give it “near real-time” visibility into the activities of listed companies.

The financial markets watchdog currently pulls in 200 million order messages for 10,000 listed products and 30 million transaction reports every day to a cloud-hosted tool (understood to be from Nasdaq) for analysis.

See also: NYSE President Stacey Cunningham on how data is transforming markets

The FCA market surveillance system pushes out alerts on potential market abuse and flags trends for further investigation by analysts, but in a contract notice posted on October 4, the FCA said it would like to “extend current capabilities beyond secondary market activity into the near real-time world of issues affecting listed companies.”

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Posted in:CIONET UK

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