Piraeus Securities S.A. Now Live with Scila Surveillance for Real-Time Market Surveillance

Scila and Athens Exchange Group co-operates to offer a SaaS solution based on Scila Surveillance “for both Buy and Sell side members of the Athens exchange.”

Piraeus Securities S.A. is reportedly “the first customer of the new service to go-live.”

The Scila Surveillance software is “provided by the Stockholm-based leading independent surveillance, risk & anti-money laundering technology provider Scila AB.”

The solution has been “deployed at customer sites in more than 20 countries.”

The SaaS solution offered to Athens Exchange members “is provided in co-operation with Athens Exchange Group, who has been a Scila customer and partner in the region since 2014.”

The SaaS service comes “with set of functionalities specifically configured for the Athen Exchange Group making it easy for members to keep abreast with evolving compliance requirements.”

Deployment time for a member “is minimal due to the pre-configured and web-based solution.”

Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at Scila, stated:

“Together with our valued customer and partner Athens Exchange Group, we are pleased to announce that Piraeus Securities S.A. is going live with Scila Surveillance.”

As covered, Scila AB Scila “provides advanced solutions for trade surveillance, anti-money laundering and risk management.”

The company Scila “was founded early 2008.”

All of the founders have “a background either from surveillance departments or working with high-throughput transactional technology within the financial industry.”

Throughout the rapid growth of the Scila company “a strong focus has been maintained on the recruitment of top-talent.”

This solid base of “superior” domain and technology knowledge “has been combined with a strategy of independence from any market participant and no reliance on external capital.

This very deliberate strategy “gave Scila both the focus and freedom to develop innovative products that deliver true value to the customer.”

Scila AB, the Stockholm-headquartered independent provider of trade surveillance, anti-money laundering and risk management tech, has established a new regional office in Singapore “covering the Asia-Pacific region.”

As mentioned in a release, Scila has worked cooperatively with clients in the APAC region since 2009, and presently offers “mission-critical solutions to exchanges and a wide range of market participants in the region and in Singapore.”

As noted in the update, the office will be focused on supporting existing clients and “perform sales and business development activities covering the Asia-Pacific region.”

Erik Holm, newly appointed Head of Sales Asia-Pacific at Scila, had previously stated:

“I am excited to be on-site in Singapore and start up our regional office. We have a strong value proposition and can offer regional customers modern technology to detect market abuse, prevent money-laundering and to manage risk.”

Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at the firm, had previous remarked:

“Scila has supported regional customers for more than 12 years and has a growing customer base in Singapore and other key financial centres in Asia. The choice of Singapore as a regional hub was due to the excellent business environment, solid regulatory framework and state of the art financial infrastructure. We look forward to meeting customers in the region.”

As noted by the firm’s management, confidence is one of the “most important” assets of any market place, market participant, or regulator. Without confidence in the market, investors will “choose other alternatives for their investments,” the company notes

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