FD Technologies Share News (FDP)

LONDON (Alliance News) - First Derivatives PLC Friday moved to put together its foreign exchange execution services and surveillance software for regulators and exchanges.

First Derivatives, which sells software to financial institutions such as banks, asset managers, hedge funds and brokers, said it is launching the integrated trade execution, risk management and surveillance software for FX markets.

First Derivatives said brokers will be able to help their clients to monitor unauthorised trading activity or to detect unusual trading patterns.

The product is also modelled as a "sandbox" for testing and validating new trading models, according to First Derivatives.

Brokers also will be able to meet regulatory demands to provide a fair and efficient trading venue for their clients and liquidity providers, First Derivatives said. It also will give brokers the ability to use a market replay facility to forensically review past trading patters.

First Derivatives' Delta Flow is an eFX trading venue that offers clients direct access to liquidity and is built upon the company's Delta Platform. The same platform, based on kdb+, is used by traders for high volume, low-latency algorithmic trading and by regulators for real-time detection of market abuse and unauthorised trading activity across multiple asset classes. Delta Surveillance is also built upon the Delta Platform and is used by the Australian Securities and Investments Commission to oversee the Australian financial market.

"We already provide FX execution services for top banks, asset managers and hedge funds and we provide surveillance solution for regulators and exchanges. Putting them together is an obvious step but one that brings something unique to the market in offering surveillance as an integral part of an FX trading platform," Chief Executive Brian Conlon said in a statement.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

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