KX adds new E-Comms functionality to KX for Surveillance
KX announces the availability of new integrated electronic communication surveillance (E-Comms) functionality for KX for Surveillance.
In today’s fragmented market, financial institutions are left to manage siloed solutions for trade surveillance and E-Comms surveillance. This leads to poorer regulatory compliance due to the lack of visibility across both. KX is enhancing KX for Surveillance to become a truly integrated surveillance solution that combines trade and E-Comms surveillance for better detection all in a single environment.
Financial institutions have been challenged to tackle financial fraud and evolving regulatory requirements amid the recent pandemic. As the pandemic has driven communications beyond the trading floor to homes and other locations, institutions are expected to continue to comply and monitor fraudulent activity. With the addition of E-Comm surveillance, KX can detect and capture fraud in complex movements in the market and conversations as well.
KX’s new capabilities allow for broader capture of structured and unstructured data across, emails, chat, applications (Reuters, Skype, Teams, Slack), online forums (Reddit), and voice. When coupled with trades, news, and other transactional activity, it provides context and deeper insights into potential suspicious activity that regulators now expect organizations to include in their oversight.
KX has also introduced new enhancements to trade surveillance via new detection rules. A key addition addresses inter-trading fraudulent activity, or using one product to manipulate the results of another.
While KX’s comprehensive approach to trade data can help explain what crimes are being committed, the communication data can explain the why. An integrated approach to trade and trader behavior surveillance; provides institutions continuous risk intelligence for better detection and compliance. KX offers a holistic solution that detects, monitors, and understands trade and E-Comms surveillance.