Nasdaq (Nasdaq: NDAQ) recently announced a technology agreement with DBS Bank (SGX:D05).
DBS will leverage Nasdaq’s technology as they seek “to advance its surveillance capabilities and continue to protect its clients from market abuse.”
DBS Bank, a financial services group in Asia, will “leverage Nasdaq technology to advance its surveillance and market integrity efforts.” Born and bred in Asia, with a presence in 18 markets, DBS provides “a full range of services in consumer, SME and corporate banking, navigating the intricacies of doing business in some of the region’s most dynamic markets.”
Headquartered in Singapore and publicly traded on the Singapore Exchange, DBS has been recognized “for its global leadership within the banking world.”
As mentioned in the announcement, Nasdaq’s Trade Surveillance solution will “enable DBS to enhance its ability to analyze comprehensive market abuse surveillance scenarios and detect trading anomalies.”
The technology will “provide DBS with a consolidated, flexible, and user-friendly view to manage and monitor market abuse risks across multiple venues and asset classes while enabling DBS’ trade surveillance team to detect, investigate and document a wide array of market abuse behaviors through tailored alerts.”
Chin Siong Ko, Chief Operating Officer for DBS Vickers, the brokerage arm of DBS, said:
“The confidence that markets and our clients have in DBS as a safe and trusted banking group is anchored on our ability to detect and respond to anomalous activity, which in turn calls for a robust surveillance and prevention infrastructure. This is an area that DBS has paid a lot of attention to, and Nasdaq’s solutions add to the suite of cutting-edge technologies that DBS deploys to enhance our surveillance capabilities at all levels and will enable us to better protect our clients’ interest.”
Ko commented:
“Nasdaq Trade Surveillance will enable DBS to advance its surveillance and market integrity efforts by leveraging Nasdaq’s technology and capabilities for effective monitoring of market conduct across multiple trading venues and asset classes. The technology will provide DBS with a consolidated, flexible and user-friendly view to detect trading anomalies and analyze comprehensive market abuse scenarios through tailored alerts.”
Nasdaq Trade Surveillance “provides the flexibility needed for targeted regional alerts designed explicitly for each market that incorporate specific market rules, relative liquidity/volatility, and jurisdictional regulatory requirements.”
Used across institutional segments, the technology will “enhance DBS’ ability to detect and respond swiftly to potential risks of market abuse and help analysts optimize their time spent.”
DBS believes its investments in technology infrastructure and capabilities over the past eight years “have given them a competitive edge in serving its clients and protecting clients’ interests.”
Over the next five to ten years, DBS will “continue investing in technologies such as Artificial Intelligence and Machine Learning to reinforce their surveillance capabilities which will, in turn, strengthen the trust that their clients already have in DBS.”
DBS joins the growing community of financial institutions “across APAC that are leading the way in digital banking and technology investments.”
As Nasdaq continues to focus on expanding its footprint in APAC, this Nasdaq – DBS technology partnership will “propel DBS’ market integrity efforts forward and continue to strengthen the trust its clients and growing community have in DBS.”