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Using proprietary technology, the new tool is intended to help market participants spot market abuse.
Financial markets infrastructure and data provider, the London Stock Exchange Group (LSEG), has deployed a new tool fueled by proprietary technology and data to help market participants sniff out market abuse and financial crime, officials say.
The tool was designed to digest billions of trade and order messages across its venues daily, via LSEG’s proprietary trade surveillance technology, alongside market data, reference data, and news, to generate cross-venue alerts and behavioral anomaly detection for trades.
The MiFID version covers multiple markets and asset classes for securities firms trading MiFID instruments, using data from the U.K. and E.U. regulators to spot nefarious activity. LSEG’s consolidated European order book data, covering more than 40 trading venues and entities authorized under MiFID II to publish trade reports, is used for cross-venue alerts.
The FX version, meanwhile, services spot FX participants on LSEG’s FX Dealing, Advanced Dealing, and Matching platforms, and third-party venues captured by LSEG’s Trade Notification network. Firms can get oversight of how their proprietary trades stack up against the public Spot Matching order book. Officials say the tool will be particularly helpful in FX markets, where fragmentation has made assessing and managing risk a challenge.
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