SunGard has extended the capabilities of its Protegent market abuse solution in response to the US Dodd-Frank Act’s anti-manipulation requirements and new rules from the Commodity Futures Trading Commission (CFTC).
The CFTC introduced a new rule that simplifies proof of fraud and manipulation in the derivatives markets and expands the commission’s authority in the commodities and swaps areas.
The US SEC is also working towards expanding its anti-manipulation provisions for security-based swaps and to impose broader securities liability.
Protegent’s new features include an extended anti-manipulation rule library as well as market data from more than 160 trading venues globally aiming to help firms comply the new regulations by simplifying the complex nature of market abuse surveillance.
Steve Sabin, chief operating officer of SunGard’s Protegent business unit, said: “Under Dodd-Frank, most trading firms, banks, insurance companies, hedge funds and brokers will have to adequately measure and monitor all variables of anti-manipulation. They need fully automated systems to help ensure compliance without negatively affecting productivity. Protegent helps each customer manage their specific compliance requirements without creating burdensome IT or vendor dependencies, costs and timelines.”
.jpg)