SOTERIA, the Real-Time Communication Compliance and Surveillance solution, and RIMES Technologies, a leading provider of managed data and RegTech services, have today announced a partnership to provide an integrated, best-in-class Market Abuse and Insider Dealing Detection capability to financial services firms. The new solution will unify the disparate areas of trade and communication monitoring and provide firms with the most comprehensive surveillance capability on the market.
The partnership combines SOTERIA’s powerful capabilities around the capture, storage, recall and surveillance of all audio, video or electronic communications, with RIMES’ multi-award-winning RegFocussm Market Surveillance service, which delivers the comprehensive monitoring of financial instruments and asset classes. The collaboration transforms the way Supervision and Compliance personnel approach the investigation of transactions and associated market and communication activity in both buy- and sell-side organisations.
The partnership comes at a time when regulatory pressures around market surveillance are increasing. These include the emergence of new regulations such as SM&CR in the UK and Regulation BI in North America, as well as the maturing of landmark regulations such as MAR. Additionally, firms are having to keep pace with the increasingly advanced market surveillance engines used by regulators.
By bringing together the analysis of transaction and communications data, SOTERIA and RIMES’ will help financial services firms – which includes the organisations’ collective customer base of nearly 600 institutions, including 10 of the top 12 tier 1 banks – analyse trading behaviour more quickly and holistically to mitigate the associated risks and more effectively respond to the regulatory challenges at hand.
Rob Houghton, Creator of SOTERIA, commented:
“This partnership represents a step-change in how financial services firms conduct surveillance; replacing legacy, siloed systems with the highly-secure, cloud-based alternatives the market has been crying out for. It is also recognition that our customers want best-in-class vendors to collaborate. By encouraging agnostic, open-architecture technology, creating bi-directional flow of information, and sharing insights and resources, the right partnerships can collaboratively create stronger and more robust offerings that are better able to help firms navigate business-critical challenges.”
Christian Fauvelais, CEO, President and Co-Founder of RIMES, commented:
“Our partnership with SOTERIA will benefit users by blending the very best of their surveillance technology with RIMES’ own industry-leading capabilities. The result is the most complete surveillance solution yet – and one that will help firms respond to an increasingly regulated area of their business without the need for large-scale and complex integration projects. The partnership puts customer convenience front and center through powerful, complete and cost-effective analytics capabilities that will deliver a strong competitive advantage”
To find out more about Soteria, click here.
The content provided in these articles is intended solely for general information purposes, and is provided with the understanding that the authors and publishers are not herein engaged in rendering regulatory or other professional advice or services. Consequently, any use of this information should be done only in consultation with qualified legal counsel. The information in these articles was posted with reasonable care and attention. However, it is possible that some information in these articles is incomplete, incorrect, or inapplicable to particular circumstances or conditions. We do not accept liability for direct or indirect losses resulting from using, relying or acting upon information in these articles.
- More Questions Than Answers: The BMR Saga Rumbles On
- Usage of Microsoft Teams is Surging – Is your Surveillance Program Ready?
- RIMES in the Time of Corona: Making Sense of Volatility
- Asset Management Firms are Changing their Data Management Approach in Response to Increasing Market Data Costs, RIMES’ Survey Reveals
- COVID-19 and ETFs: July Market Update