FD Technologies Share News (FDP)

LONDON (Alliance News) - First Derivatives PLC said Tuesday it has successfully implemented its market surveillance system at the Australian Securities and Investments Commission.

The customisable system, based on The company' Delta Stream technology, provides its algorithmic trading infrastructure to support the regulator in conducting multi-market supervision across futures and equities in real-time, giving the ASIC new tools to help identify fraud across and between different markets.

The speed of the system will also support a flexible approach to analysis by the ASIC as the time required to produce some reports can range from several hours to less than a minute.

Delivered on time, the project came in on budget. First Derivatives' Director APAC, Rob Hodgkinson, said, "We're very pleased with the way the project has run. ASIC now has the tools needed to monitor the market in a very sophisticated way. Globally, regulators face issues in being able to keep up with the speed and sophistication of their own markets, which is obviously a huge problem if you're trying to police the market effectively. The system designed for ASIC puts it at the head of the pack in terms of their capabilities as an effective, evidence-based regulator."

ASIC's senior executive leader of market and participant supervision, Greg Yanco, said, "We made the decision to upgrade our systems in response to new developments in the trading environment. Given the dynamism of the market environment, we wanted a system capable of capturing and analysing data from all our participants on all markets in real time. With this implementation we can identify questionable activity straight away and act upon it much quicker."

Shares in First Derivatives were trading at 1,042.4 pence per share Tuesday afternoon, down 1.66%.

By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance

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