TradeStation Securities, the US broker-dealer arm of Japanese financial services giant Monex Group, is switching from legacy products to Trillium’s Surveyor platform for trade surveillance.
Surveyor offers its users a detection, visualization, and workflow functionality to keep up with the demands of trade surveillance. Surveyor’s software also qualifies alerts using depth-of-book market data, instead of top of book data, which results in missing real market manipulation. It also reviews trading data to identify potential manipulative trading patterns both with a single instrument, between different instruments and between derivatives and their underlying stock or futures contract.
TradeStation and its parent expand to new markets
The platform already covers options, equities and futures markets.
Commenting on the news, Bailey Kessing, Business Development at Trillium, said: “We are very excited to bring on TradeStation, an industry leader in the online retail broker space, adding to the growing list of top-tier firms that are switching to Surveyor. Our extensive list of supported markets and asset classes made TradeStation’s transition to Surveyor quick and seamless.”
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“Market surveillance is a crucial part of running a successful online trading firm and knowing that Trillium is recognized as a highly distinguished and trusted company made our decision to sign on with them a simple one,” added Herbert Walton, Chief Compliance Officer at TradeStation Securities, Inc.
The US subsidiary of Japanese financial services giant Monex Group says it plans to launch its cryptocurrency services later this year.
For the new offshoot, TradeStation leverages its brokerage industry expertise to address what it perceives to be “key concerns and certain weaknesses in the current cryptocurrency ecosystem,” it said.
TradeStation has recently invested in the cryptocurrency exchange ErisX which raised over $25 million from investors including Fidelity Investments and Nasdaq Ventures. Its parent Monex Group already has a diverse portfolio of brokerages worldwide though was rumored to be making a big splash in cryptocurrency markets. Earlier last year, Monex set up its own cryptocurrencies unit to study the opportunities in the sector.