OneMarketData announced that its trade surveillance tech has been selected by Independent Trading Group (ITG), the Canadian market maker, to monitor US and Canadian equities trading in a cloud hosted deployment.
OneTick Trade Surveillance helps firms meet trade surveillance regulations including MAR, MiFID II, SEC, FINRA and IIROC. The out-of-the-box library of alerts comes with a calibration tool for choosing alert parameters appropriate for the firm to minimize the number of false positives. Global equities and futures market data are included with the cloud-hosted offering.
“Ongoing regulatory pressure and current market conditions have highlighted how critical trade surveillance is to any firm. We wanted to upgrade our legacy surveillance technology and recognized we needed to work with a partner that could provide us with the cutting edge technology, flexibility and scalability we need to manage compliance for our US and Canadian Equities business,” said Nick Savona, chief compliance officer at ITG, in a statement.
“Regulatory obligations continue to grow and place increased pressure on compliance departments. Firms recognize they need to adjust to the new ‘always on’ normal and deploy the right surveillance system to help them protect themselves in a rapidly shifting environment…ITG is our first client in Canada and we look forward to further expanding in the region,” said Dermot Harriss, SVP of Regulatory Solutions at OneMarketData, in a statement.