MAD II and MAR require firms to adopt automated detection systems: SIA EAGLE helps financial firms in being compliance with a comprehensive suite of modules.
Diagnostics MAD II
In accordance with IOSCO principles and with market best practices, the Diagnostics MAD II module replaces the previous Diagnostics T+1 and ESMA Diagnostics modules. The new module meets regulations and compliance requirements set by the Market Abuse Regulation (EU No 596/2014) through predefined checks – diagnostics – that guarantee the detection of potential market abuses on financial instruments across different markets.
SIA-EAGLE Intermediaries embeds a complete set of diagnostics for market manipulations (including monitoring of high frequency and algorithmic trading), internal dealing and insider trading as defined in the new regulation and in the ESMA Technical Advice (ESMA/2015/224).
New diagnostics implement an innovative approach: they are able to identify multiple manipulative practices with a single algorithm, reducing the number of detections to analyse and optimizing the work of compliance users.
SIA-EAGLE Intermediaries implements cross-venue and cross-product approach in its analyses.
Rules for Intraday Monitoring
The Rules for Intraday Monitoring Module, complementary to the Diagnostics ones, includes all the functionalities needed to:
- allow users to freely build and configure their own rules
- produce synthetic reports containing the results of the rules
- manage the escalation process using the same workflow mechanism as diagnostics
SIA EAGLE Trading Analytics module allows end users to build ad hoc analysis and proactively identify new patterns of abuse even within a large amounts of different varieties of data.
SIA EAGLE Analytics module extends alerting and visualization capabilities by aggregating data at different levels and presenting them through interactive dashboard and charts.
The T-Review supports users in dealing with thresholds definition: directives leave intermediaries free to decide what is suspect or not and so thresholds are fundamental for a proper use of a surveillance tool.
CEP Real Time Rules
The CEP Real Time Rules allows a real time monitoring of abusive practices by the application of rules analyzing real time data streams and statistical data.
The module implements the CEP (Complex Event Processing) paradigm facilitating analysis of real time.
Insider List Module meets the requirements imposed by Art. 18, Regulation EU 596/2014, allowing issuers to efficiently maintain an electronic list of all persons having access to inside information relating, directly or indirectly, to the issuer itself both whether on a regular or occasional basis.