Nasdaq launched a data discovery capability within Nasdaq Trade Surveillance, which is already operating in multiple firms. Compliance teams will be able to extract additional insights and context for market abuse investigations, while data scientists can benefit from normalized data access.
While the data discovery capability is initially focused on delivering value to the Nasdaq’s surveillance community, it will be rolled out to other Nasdaq market technology platforms beyond surveillance over time to unveil additional insights when analyzing data across siloes.
For many firms, normalization of trade- and compliance-related data across multiple venues is cumbersome, while the process of extracting the right data sets at the right time for the right persona is both time-consuming and resource intensive.
Use cases include: regulatory inquiries; data reconciliation, allowing access to normalized trading data across multiple asset classes and venues for use in data audits and reconciliation for regulatory compliance including MiFID II; case reviews, providing new data investigation capabilities to expeditiously identify activity patterns over time and across securities and markets to aid investigation of sophisticated market abuse cases; and data science access, which supports the exploration of targeted data sets, aggregations and behavioral indicators for use in internal data analysis projects by data scientists and innovation teams.