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.

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