eToro Selects NICE Actimize to Fight Market Manipulation

eToro, a multi-asset investment platform, has selected NICE Actimize to guard against market manipulation and ensure compliance, the latter announced this week.

In particular, eToro will implement NICE Actimize’s SURVEIL-X Markets Surveillance solution, which will be used to complement the company’s existing critical compliance infrastructure to prevent market manipulation.

Furthermore, the solution will be used to further ensure compliance across its range of trading products, such as equities, commodities, ETFs, CFDs, foreign exchange (Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term) and more.

In particular, the NICE Actimize SURVEIL-X Markets Surveillance application allows securities trading firms to detect sophisticated forms of market manipulation including pump and dump, layering and insider trading.

eToro: NICE Actimize had the adaptability to meet future needs

Commenting on the partnership, Avi Sela, COO of eToro said in the statement: “As a global, multi-asset investment platform, we are committed to providing a reliable, fully compliant brokerage experience, protecting customer assets while offering full transparency and meeting the needs of global regulators.

“To accomplish this, we chose financial markets compliance innovator NICE Actimize to provide solutions which address the rapidly changing landscape. We required a solution that would adapt to the broad range of emerging assets we offer, and NICE Actimize was the choice which had the adaptability to meet our current and future needs.”

NICE Actimize application provides surveillance models that enables global regulatory compliance across products and markets.

“As we serve the global investment community, we provide broad, consistent global coverage via standard models for equities, fixed income, foreign exchange, swaps, futures and options along with ease of deployment and seamless scalability,” added Chris Wooten, EVP, NICE in the statement.

“With more than 12 years’ experience implementing OTC instrument markets surveillance, our out-of-the-box detection scenarios provide superior Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term that have been successfully implemented by numerous top tier global clients. We recognize eToro’s commitment to the highest standards of customer safeguards and are excited to provide its global investment platform secure and cost-effective protection.”