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It’s Boom Time for Market Surveillance

A new report from Grand View Research, a market research and consulting company, has forecast a staggering compound annual growth rate of nearly 20% for the global trade surveillance market. According to the report, growth will be driven by demand from a mix of financial institutions, consulting firms and regulatory bodies, and will reach a staggering $2.9 billion by 2027.

The findings chime with what RIMES is seeing unfold in the marketplace. In the US, various SEC and CFTC Rules and sections of the Dodd-Frank Act are calling out specific behaviors and codifying what regulators expect from firms when it comes to their surveillance capabilities. In Europe, regulations such as MAR and MiFID II are having a similar effect. And across the board, regulators are taking more of an interest in the systems and controls organizations have in place to rapidly identify and report suspicious activity.

Scott Burke, Global Product Manager for Surveillance at RIMES, comments: “The research found that in 2019 the surveillance solutions segment accrued the highest market share; citing benefits including the optimization of surveillance data, compliance management, and streamlining of case management.

“These are all provided by the RegFocussm Market Surveillance service, which is built on RIMES’ data management capabilities and data connections.  However, they were not the only requirements to come up in conversations with our clients. Another thing that firms are looking for now is comprehensive and integrated capabilities across both trade and communications data.  And with the spike in home working caused by the COVID-19 response it’s likely this requirement will only become more pronounced.”

With remote and home working suddenly the norm for most firms, the ability to effectively monitor mobile voice, text and social media communications will become central to effective risk management and surveillance. It should be noted in this regard that regulators in the US and Europe are by varying degrees empowered to request that this data be provided for analysis.

Scott Odabashian, Senior Sales Manager for Surveillance at RIMES, added: “This March, we completed the integration of RIMES RegFocus Market Surveillance with SOTERIA, the best-in-class communications monitoring service. As a result, we’re in a position to offer a truly integrated, holistic approach to market surveillance that’s well suited to helping firms manage risk in today’s challenging climate”.

Contact us to receive more information about RegFocus℠ Market Surveillance, our award-winning solution which handles the many complex challenges of market surveillance.

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