Firstrade Securities Taps Trillium for Trade Surveillance

US-registered broker-dealer Firstrade Securities Inc. is switching from legacy products to Trillium’s Surveyor platform for trade surveillance.

Founded in 1985, Firstrade offers Online Trading Online Trading Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Online trading represents the trading of fiat currencies, digital currencies, commodities, stocks and indices, where traders and investors intend to make a profit, via the purchase or sale of the aforementioned products. This is done through an electronic network, made accessible by brokers in the form of an online trading platform or hub.Online trading continues to see a rapid growth year on year, due to a number of reasons. Firstly, the number of brokers offering their services, with more mone Read this Term and investment financial services firms in the US. The company cites itself as being one of the first online brokers in the US, whose roots in the online business date back to 2001, and is also licensed in all 50 states plus the District of Columbia, Puerto Rico and the Virgin Islands.

Trillium’s Surveyor offers its users detection, visualization, and workflow functionality to keep up with the demands of trade surveillance. The software also qualifies alerts using depth-of-book market data, instead of top-of-book data, which results in missing real market manipulation. Further, it 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.

The platform already covers options, equities, and futures markets.

Surveyor is also used by traders and order routing professionals to review and optimize order routing strategies. The solution sources and captures data elements required to conduct a complete review of all trading activity.

A diversified financial services firm, Surveyor is a creation of Trillium’s trading technology development arm, Trillium Labs, which focuses on post-trade 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 and market surveillance tools.

Detecting potential cross-product market manipulation is becoming a greater necessity for firms as the US regulators have brought one enforcement case against the practice in recent months.

“There are a number of trade surveillance vendors that address manipulation, but we needed one that would save us time. Trillium Surveyor was chosen as the partner that would increase efficiency for the compliance team as our electronic trading business continues to grow,” said Jackie Lee, SVP, Compliance Officer at Firstrade Securities.