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Last month, our team had a valuable experience at the SIFMA C&L Annual Seminar in Orlando. It was a meaningful week of meeting with legal and compliance professionals from throughout the financial ecosystem, with a compelling program of interviews and breakout sessions keeping us all engaged.
Through our conversations, we learned a lot about how industry firms view trade surveillance and the challenges they face in making their programs as efficient and accurate as possible. That said, one of our most intriguing takeaways from the week had nothing to do with trade surveillance – at least not directly.
During one session, the moderator took an informal poll of the room: how many audience members worked for firms that had recently, or would be willing to do so in the future, replace their compliance tooling? To our surprise, nearly every hand shot up. While frustrations with legacy technology are common, there’s often a sense of inertia at play: if a system is performing adequately, why rock the boat? Yet this audience full of banks and asset managers, cautious and risk-averse by nature, was overwhelmingly in favor of embracing change.
In hindsight, maybe we shouldn’t have been so surprised. In every corner of our industry, the stakes are rising: markets are becoming more complex, the pace of regulation is accelerating, and key personnel are being pulled in more directions than ever before. In this environment, firms can’t afford to be caught flat-footed. Long-term success will require being relentless in pursuit of efficiencies, even if it causes disruption in the short term.
There will always be reasons to stick with what you know – but if inadequate surveillance results in even one regulatory fine, those benefits will be more than offset. Elegant solutions that combine in-depth functionality with an intuitive user experience are the best way to protect your firm from financial and reputational loss. If you have thoughts on how your current system could better reflect these qualities, reach out to start a conversation.
Our week at SIFMA was a gratifying reminder that there is a strong appetite to meet emerging challenges with the right technology. To satisfy that demand, we’ll continue to pursue innovation as relentlessly as our clients.
– Lisa Balter Saacks, President, Trillium Surveyor
Product Spotlight
NEW Trends Page
The Surveyor Trends Page allows clients to intuitively visualize accounts that are generating the most alerts over a selected time period. As opposed to a single event alert, this allows an analyst to look at behavior trends over time and easily identify repeated manipulative patterns by specific accounts.
Fractional Share Monitoring
Trillium Surveyor is an essential surveillance tool for maintaining market integrity and ensuring fair practices, even in fractional share trading. Here are some key points to consider:
Monitoring Compliance
Properly monitor fractional share transactions to detect any irregularities or potential violations.
- Surveyor tracks trades, patterns, and behaviors to identify suspicious activities, even for the smallest of trades.
Market Manipulation Prevention
Detect unusual trading patterns or sudden price movements to prevent market manipulation.
- Surveyor’s tools help identify layering, spoofing, wash trading, and other fraudulent practices.
Company News
Last month, Surveyor hired AJ LeGaye as Director of Sales. AJ brings in-depth knowledge of the RegTech space from his work in enterprise sales at Hummingbird, a modern platform for anti-money laundering. He also brings a wealth of general B2B experience, having held high-impact sales roles at Credit Key, Bread Financial and Google. Welcome to the team, AJ!
Where We’ve Been, Where We’re Going
SIFMA C&L Annual Seminar
Last month, we headed down to Orlando for the SIFMA C&L Annual Seminar, a preeminent gathering place for compliance and legal professionals in financial services. We enjoyed meeting with so many people who live and breathe compliance as they told us their top priorities in the realm of trade surveillance. For more information, check out our write-up above.
STANY 88th Annual Conference (Women in Finance Breakfast Sponsor)
The Trillium Surveyor team was happy to participate in the 88th Annual STANY Conference on Monday, April 15th as the Women in Finance breakfast sponsor.
Looking Ahead
We’ll be attending several events over the next few months. If you’ll be onsite or in town, be sure to say hello! Email Rob Cope to set up a meeting.
Crowdsource Corner
We’re continuously working to make our products as impactful as possible. One area we’re especially focused on right now is our best execution analytics. With evolving regulatory requirements around execution quality and the markets growing more competitive overall, analyzing routing decisions at the most granular level has never been more important.
To that end, we’re assembling a user group to inform our next wave of best execution innovation. Want to get involved and share your perspective?
