Piraeus Securities deploys Scila’s market surveillance amid partnership with Athens Exchange

Rick Steves

The service comes with a set of functionalities specifically configured for the Athen Exchange Group making it easy for members to keep abreast with evolving compliance requirements.

Scila and Athens Exchange Group co-operates to offer a SaaS solution based on Scila Surveillance for both Buy and Sell side members of the Athens exchange. Piraeus Securities S.A. is the first customer of the new service to go-live.

Real-time market surveillance is a critical tool within the trading industry of today and Scila AB, the Stockholm-based provider of surveillance, risk & anti-money laundering technology has been leading this field for many years now. The solution has been deployed at customer sites in more than 20 countries.

Deployment time is minimal due to pre-configured solution

Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at Scila, said: “Together with our valued customer and partner Athens Exchange Group, we are pleased to announce that Piraeus Securities S.A. is going live with Scila Surveillance.”

Through the partnership between Scila AB and the Athens Exchange, a longtime customer and partner in the region since 2014, all exchange members can get access to the SaaS solution.

The service comes with a set of functionalities specifically configured for the Athen Exchange Group making it easy for members to keep abreast with evolving compliance requirements. Deployment time for a member is minimal due to the pre-configured and web-based solution, according to the firm.

Scila AB opens up to crypto

Like other market surveillance solutions in the industry, Scila AB has found the digital asset space to be a new ecosystem to provide coverage. In April, the firm announced that it partnered with crypto derivatives exchange D2X.

D2X is set to provide digital asset options and futures trading as an EU-regulated Multilateral Trading Facility and, for that, it will need a powerful and flexible real-time market surveillance tool such as Scila’s.

Scila Surveillance is deployed at customer sites in more than 20 countries, including exchanges, regulators and market participants, including some of the largest cryptocurrency exchanges and traders across the globe.

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 utilizes advanced machine learning capabilities, based on both unsupervised and supervised learning.

In November 2021, Finance Feeds covered the partnership between Scila AB and 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.

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.

Read this next

Retail FX

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro, Businessempire.fr

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.

Technology

Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.

<