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.

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