Success Stories
Real-time monitoring solution for one of the largest Stock Market Regulators in Asia Pacific
Business Need
Client wants to analyze market irregularities and identify suspected market offenders and market entities that engage in market manipulation and market abuse. For this, it seeks automated systems that can identify aberrant trading patterns for the purpose of identifying, analyzing and ultimately stopping illegal trading behavior.
Once the system is built the IMSS will be the equivalent of an integrated surveillance system across 27 exchanges, including 23 regional exchanges and well as the two majors (NSE and BSE) for both equities and derivatives.
Challenges and Requirements
The solution should:
- Provide sophisticated alert engines that work with various data formats (insider trading engine, fraud alert engine and market surveillance engine)
- Extend the system from equities to derivatives and other markets, to facilitate cross-market surveillance
- Provide an online data repository capable of capturing market transactions and reference data.
- Provide a research and regulatory analysis platform.
HCL Solution
HCL was the Systems Integration partner for client and was responsible for delivering a complete system along with its partners. HCL consultants analyzed client's requirements and performed a gap analysis to understand the features available in some of the popular products available in the market and their suitability to client's requirements. Subsequently the product suite from SMARTS was identified as the most appropriate as it handles most of the nominated objectives. Moreover the solution is operational in many sites it is the closest client can get to an "off-the-shelf" solution and can therefore be installed in minimum time.
HCL understood the business requirements from client and convert it to the appropriate format as desired by the SMARTS software. HCL provided the interfaces with the other systems at 25 Stock Exchanges and 2 Depositories. HCL customized SMARTS products to suit the market needs, build adapters and connectors to receive data from multiple exchanges and build reports that will help client monitor and analyze market movements on a continuous basis. HCL is also providing hardware, networks and other communication infrastructure that will assist client in effectively monitoring the movement of stock prices.
