NICE Actimize, a NICE (Nasdaq:NICE) business and the provider of Autonomous Financial Crime Management, has enhanced its Market Surveillance Solution to help firms comply with the MiFID II microsecond requirement, while improving firms´ ability to detect and mitigate market abuse, the company said.
MiFID II, which went into effect on January 3rd, requires firms to monitor communications and transactions for Market Abuse and sets a higher bar for High Frequency Trading, requiring such trading activity to be monitored at the microsecond level. Firms that do not comply with this stipulation risk fines, or worse, reputational damage if market abuse goes undetected. To address this,
High Frequency Trading (HFT), a type of trading that uses computers to execute large volumes of orders at very fast speeds, is prone to market manipulation because programs and algorithms can be easily altered by a single ´bad actor´ with malicious intentions.
NICE Actimize is the largest and broadest provider of financial crime, risk and compliance solutions for regional and global financial institutions, as well as government regulators.
NICE is the worldwide provider of both cloud and on-premises enterprise software solutions that empower organizations to make smarter decisions based on advanced analytics of structured and unstructured data. NICE helps organizations of all sizes deliver better customer service, ensure compliance, combat fraud and safeguard citizens.