The Surveillance onion

The onion represents the differing levels within our suite of algorithms and how they are related.

Best execution

This is the simplest layer and creates metrics for the trade performance against standard benchmarks.

Transaction cost analysis

Our quantitative TCA has many unique proprietary metrics including market impact and information leakage.

Algorithm evaluation

This component analyses the performance of a trading algorithm given the market environment.

Liquidity Provider  ranking

We compare the relative metrics of all the venues where trades are executed to propose optimal trading allocations.

Ethical evaluation

This component has a suite of analytic tools to detect that trading occurs according to the Codes of Conduct.

Surveillance

The top layer in the Raidne suite contains our most sophisticated algorithms to detect market manipulation and abuse using

  1. Rules-based trading checks. 
  2. Statistical analysis to check for anomalies.
  3. Machine-learning techniques designed to reduce the number of false positives.

Quantitative Surveillance

The Raidne solution

Raidne is an independent company offering proprietary surveillance algorithms to monitor market manipulation and market abuse. We help financial firms fulfil their monitoring and surveillance requirements under MiFID II and MAD II. Raidne algorithms have strong quantitative methodologies and analyse the market microstructure to spot sophisticated manipulation attempts and flag warnings for firms to investigate.

Buy-side clients

  • We arm you with the information to help you make more profitable trading decisions.
  • We can pinpoint which trades or venues are creating information leakage or having excessive market impact. 
  • We help you comply with MiFID II and MAR regulations around surveillance and best execution.

Sell-side clients

  • We provide an early warning for potential trading anomalies from your own trading, satisfy regulatory compliance, and provide assurance for your clients.
  • You benefit from the long hands-on business experience of our employees who understand the markets and how they can be manipulated and abused.
  • We can integrate with your compliance department to strengthen the existing surveillance of trading activities and reduce false positives.
  • Our independent TCA gives an objective overview of your trading outcomes to your clients.

Regulators

  • Our sophisticated suite of algorithms can detect trading anomalies within large sets of transaction data.
  • We can complement your existing surveillance with our hands-on experience of the markets and proprietary methodologies. 
  • Using machine-learning techniques our algorithms actually strengthen over time as more transaction data is filtered through our algorithms.

Vendors

  • We can monitor for market  manipulation on the trading platform.
  • We can provide an independent assessment of your service to your clients and satisfy best-execution requirements.

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