Renaissance Capital, the emerging markets investment bank, has selected and installed Redkite's trade surveillance solution, Redeye. The firm wants to keep an eye on Russian markets, according to a press statement.
It's a global, multi-markets surveillance solution within the firm's comprehensive, global technology upgrade program. The system went live in August, six weeks' after the global contract was signed.
Following market due diligence, Renaissance Capital selected the Redeye hosted solution to monitor, capture, analyze and act on the fast moving activities within its global equities trading operations. The solution, which includes Redkite's market leading insider trading module, will enable Renaissance Capital to identify suspicious transactions and activities that are indicative of market abuse or manipulation.
Mark Harris, group head of compliance, Renaissance Group, comments: "In light of the increasing market regulation taking place around the world, in particular in Russia, it was crucial that we found a next generation market surveillance solution. Redkite's Redeye solution provides real flexibility thanks to its modular approach to alerts development within Redkite's hosted environment."
Justin Amos, CEO, Redkite Financial Markets, comments: "We are delighted to be working with Renaissance Capital on enabling real-time surveillance and trade monitoring throughout its global operations. Renaissance Capital's selection of Redeye demonstrates our commitment to the Russian markets, a jurisdiction that is currently undergoing significant regulatory change. Following this successful installation of Redeye, Redkite is now working with Renaissance Capital to ensure that it will continue to be a forward-thinking solution for the Russian compliance markets within this changing regulatory environment."
Amos adds: "Redkite's market surveillance solution will enable Renaissance Capital to ensure its own and its clients' regulatory compliance now and in the future. The solution will reduce the total cost of ownership in this area compared to the firm's existing market surveillance solution whilst also broadening and deepening coverage."
Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio