Montréal Exchange deploys KX’s multi-asset trade surveillance ahead of EMEA and APAC expansion

Rick Steves

Montreal Exchange aspires to scale its client base internationally, reaching clients across EMEA and APAC.

Canadian derivatives exchange Montréal Exchange (MX) has deployed KX’s multi-asset trade surveillance solution to combat market abuse and enable further global growth, according to the provider of real-time streaming analytics.

MX is a wholly-owned subsidiary of TMX Group and will be leveraging KX Surveillance to improve detection quality and accuracy to ensure MX’s Regulatory Division greater operational success and scale.

KX Surveillance is a trading surveillance, analytics and visualization platform that ingests high volume data to address the needs of the evolving trading industry that has grown ever more sophisticated.

The derivatives exchange’s Regulatory Division will use KX Surveillance to oversee trading conduct and scan hundreds of billions of messages – going back years if necessary – to identify and further investigate suspicious activity, said the announcement that highlighted a number of features, including the configurable alert patterns.

KX for the integrity of the Canadian derivatives markets

Julie Rochette, Chief Regulatory Officer, Montreal Exchange: “The Montréal Exchange has an ongoing commitment to maintaining the confidence of investors and the integrity of the Canadian derivatives markets. Through automation, KX Surveillance further enhances the Regulatory Division’s ability to monitor trading activity, identify trading behaviors and patterns, and detect behavioral changes in a timely manner. With it, we’re better able to detect and deter prohibited manipulative or deceptive methods of trading to ensure the integrity of this country’s exchange-traded derivatives market. This surveillance system and database capability enable us to support the scale of operations MX aspires to achieve.”

Montreal Exchange aspires to scale its client base internationally, reaching clients across EMEA and APAC.

Conor Twomey, Head of Customer Success and Managing Director, Americas, KX said: “KX provides the de-facto technology and framework for fully-informed financial intelligence today. This level of insight breeds improved decision-making and trust which are more critical than ever before. We’re thrilled that the Montreal Exchange has recognized our ability to support them in this way and look forward to expanding our partnership, as well as our overall presence in the Canadian markets.”

KX Surveillance helps financial exchanges and trading organizations to address complex regulatory requirements, reduce risk, and maximize opportunity. The KX system, designed to be flexible, can adapt alerts for jurisdiction-specific needs and supports sophisticated alert methodologies.

Read this next

Retail FX

eToro valuation halved as SPAC merger deadline expires

The deadline for the completion of the SPAC merger of eToro had passed yesterday, June 30, and the Israeli broker apparently canceled the deal with Betsy Cohen-backed blank-check firm.

Institutional FX

FXSpotStream reports second best figure for monthly volumes

Trading volumes on institutional FX platforms surged in June after fears over the impact of Russia’s military invasion of Ukraine sent speculative asset classes reeling.

Retail FX

Vantage expands MT5 offering with access to new stocks

ASIC-regulated foreign exchange brokerage Vantage has expanded its service offering and trading products by incorporating new markets, namely 14 exchange-based stocks on MetaTrader 5.

Digital Assets

CFTC charges $1.7 billion Bitcoin scam, largest to date

Mirror Trading accepted at least 29,421 Bitcoin from approximately 23,000 investors from the United States and even more throughout the world.

Retail FX

Spotware Systems upgrades cTrader Desktop to version 4.3

Spotware Systems, a technology provider for the electronic trading industry, has launched an updated version of its cTrader Desktop, which adds new functionality to join a roster of advanced trading capabilities.

Digital Assets

OKX launches Block Trading for tighter pricing

With Block Trading, users can integrate spot and derivatives trades on the same platform and trade multiple currencies in a single trade. The service supports trading of perpetual swap, futures, and option contracts with popular altcoins as the underlying.

Industry News

Interactive Brokers pays $1 million to settle with CFTC

Interactive Brokers overcharged its customers a total of $710,828.14.

Metaverse Gaming NFT

DappRadar launches cross-chain token staking

The launch of the cross-chain token staking mechanism by DappRadar comes under a partnership with LayerZero protocol, which enables smart contracts to communicate across different chains.

Digital Assets

Polkadot releases one-stop marketplace for Substrate pallets

Proof-of-stake blockchain Polkadot has achieved a significant feat in its development, as it rolls out Substrate Marketplace, a one-stop shop for exploring the many Substrate pallets currently available.

<