Capital.com Selects Scila AB for Real-Time Trade Surveillance Technology

Thursday, 09/03/2023 | 15:03 GMT by Damian Chmiel
  • Scila AB and Capital.com announced their partnership in trade surveillance.
  • The broker will use Scila’s products to better detect and prevent potential market abuse.
Capital.com

Stockholm-based Scila AB has been selected by Capital.com to provide a multi-asset class trade surveillance solution for the global monitoring of trading activities. The technology provider will offer the FX and CFDs retail broker a powerful and flexible trade surveillance solution that has already been deployed in over 20 countries worldwide.

Scila Will Help Capital.com with Market Abuse Prevention

Scila's trade surveillance technology boasts extensive reports and alert rules, robust search and replay features, and trading analytics tools. To enhance its efficacy, the system employs cutting-edge machine learning algorithms to effectively classify alerts and electronic communications, including voice recordings, emails and chats.

Capital.com's Chief Commercial Officer, Kypros Zoumidou, says the Scila is a market leader in providing real-time surveillance technology and will support the broker's drive to detect and prevent potential market abuse cases quickly.

"We are pleased to announce this new partnership with one of Europe's fastest growing trading platforms – Capital.com. Scila delivers a platform that is flexible, scalable and can deal with massive amounts of data, making it a natural match for customers that operate in a global dynamic trading environment," Lars Gräns Rodhe, the Chief Commercial Officer at Scila AB, added.

Scila offers its risk management technology to regulators, exchanges and market participants worldwide, including Deutsche Börse Group, Qatar Exchange, Central Bank of Iceland and Alpha Finance.

Capital.com Buys OvalX and Taps Market Professionals

Capital.com is a rapidly expanding fintech company providing online retail trading platforms. It maintains a worldwide presence with branch offices situated in Cyprus, the UK and Australia, with a massive user base of over 7 million registered investors. The platform's success is evident from the 83% growth in user accounts reported in 2022.

As exclusively reported by Finance Magnates, Capital.com took steps to purchase the client assets of forex and CFDs broker, OvalX. To support the new deal, Capital.com, in the statement, noted that it has appointed Niamh Byrne, the former Head of UK B2B2C Sales at IG Group, as its Head of the UK and Ireland.

"Under the terms of the agreement, OvalX will offer some of its existing retail and professional clients the opportunity to transfer their accounts to Capital.com. This will ensure continuity of service for OvalX clients and allow them to continue trading without disruption," both companies said in a joint statement shared with Finance Magnates in February.

Additionally, Capital.com has been actively bolstering its executive team recently, tapping into the talent pool of IG Group executives. In December, the broker hired Greg Adams, a veteran executive with IG Group, as its Head of Risk. Additionally, a month earlier, the company brought on board Alessandro Capuano, who had served as IG Group's Head of Exchange Traded Products, to take on the role of Head of Europe at Capital.com.

Stockholm-based Scila AB has been selected by Capital.com to provide a multi-asset class trade surveillance solution for the global monitoring of trading activities. The technology provider will offer the FX and CFDs retail broker a powerful and flexible trade surveillance solution that has already been deployed in over 20 countries worldwide.

Scila Will Help Capital.com with Market Abuse Prevention

Scila's trade surveillance technology boasts extensive reports and alert rules, robust search and replay features, and trading analytics tools. To enhance its efficacy, the system employs cutting-edge machine learning algorithms to effectively classify alerts and electronic communications, including voice recordings, emails and chats.

Capital.com's Chief Commercial Officer, Kypros Zoumidou, says the Scila is a market leader in providing real-time surveillance technology and will support the broker's drive to detect and prevent potential market abuse cases quickly.

"We are pleased to announce this new partnership with one of Europe's fastest growing trading platforms – Capital.com. Scila delivers a platform that is flexible, scalable and can deal with massive amounts of data, making it a natural match for customers that operate in a global dynamic trading environment," Lars Gräns Rodhe, the Chief Commercial Officer at Scila AB, added.

Scila offers its risk management technology to regulators, exchanges and market participants worldwide, including Deutsche Börse Group, Qatar Exchange, Central Bank of Iceland and Alpha Finance.

Capital.com Buys OvalX and Taps Market Professionals

Capital.com is a rapidly expanding fintech company providing online retail trading platforms. It maintains a worldwide presence with branch offices situated in Cyprus, the UK and Australia, with a massive user base of over 7 million registered investors. The platform's success is evident from the 83% growth in user accounts reported in 2022.

As exclusively reported by Finance Magnates, Capital.com took steps to purchase the client assets of forex and CFDs broker, OvalX. To support the new deal, Capital.com, in the statement, noted that it has appointed Niamh Byrne, the former Head of UK B2B2C Sales at IG Group, as its Head of the UK and Ireland.

"Under the terms of the agreement, OvalX will offer some of its existing retail and professional clients the opportunity to transfer their accounts to Capital.com. This will ensure continuity of service for OvalX clients and allow them to continue trading without disruption," both companies said in a joint statement shared with Finance Magnates in February.

Additionally, Capital.com has been actively bolstering its executive team recently, tapping into the talent pool of IG Group executives. In December, the broker hired Greg Adams, a veteran executive with IG Group, as its Head of Risk. Additionally, a month earlier, the company brought on board Alessandro Capuano, who had served as IG Group's Head of Exchange Traded Products, to take on the role of Head of Europe at Capital.com.

About the Author: Damian Chmiel
Damian Chmiel
  • 1495 Articles
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About the Author: Damian Chmiel
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
  • 1495 Articles
  • 30 Followers

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