Kazakhstan Stock Exchange signs Scila AB for surveillance

Rick Steves

“The chosen system will allow the Exchange to reach a qualitatively new level of protection of the local market from manipulation.”

Kazakhstan Stock Exchange and Scila AB have entered into a partnership for supply and implementation of the automated surveillance system Scila Surveillance at KASE.

The deployment of the surveillance solution aims to counteract unfair practices in the exchange market, thus maintaining market integrity and building investors’ trust therein.

Scila AB has been providing market surveillance, anti-money laundering and risk management, and instruments to detect fraud on financial markets for many years now.

Scila Surveillance is the firm’s flagship product and offers real-time surveillance over participants currently deployed at customer facilities in more than 20 countries, including exchanges, regulators, and market participants.

Alina Aldambergen, Chairperson of KASE’s Management Board, said: “The chosen system will allow the Exchange to reach a qualitatively new level of protection of the local market from manipulation. The use of the latest technologies in the field of financial services expands the capabilities of participants, raises the level of service standards and, accordingly, the requirements of the market as a whole”.

Lars-Ivar Sellberg, Executive Chairman and one of Scila co-founders. commented: “Kazakhstan is the largest economy in Central Asia and a leading capital market in the region. KASE offers a wide range of products and instruments in various asset classes, and we look forward to a long-term partnership with KASE”.

FinanceFeeds webinar: Expert panel to discuss market data for multi-asset brokerages  

Scila AB provides AML and surveillance capabilities to Crypto

Scila AB has recently partnered with Archax, a digital securities exchange, broker, and custodian regulated by the UK Financial Conduct Authority (FCA).

The agreement regarded the deployment of AML and surveillance capabilities as digital asset trading continues to present immense challenges.

The crypto asset trading platform will use Scila for its cryptocurrency market, deploying the real-time market surveillance and anti-money laundering tool.

Scila is very much in tune with digital assets and cryptocurrencies and has some of the largest cryptocurrency exchanges and traders in its client roster.

The Scila solution includes a broad selection of alert rules and reports, a powerful search and replay functionality as well as trading analytics tools. The solution utilises advanced machine learning capabilities, based on both unsupervised and supervised learning.

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