Progress Software Launches Mkt Surveillance, Monitoring Soln

Progress Software Corporation, launched a Progress Market Surveillance and Monitoring Solution Accelerator product.

The Market Surveillance and Monitoring Solution accelerator enables financial institutions, exchanges and market regulators to detect patterns of abusive or erroneous trading activity and take corrective action to prevent trading fraud and abuse in real-time. Moreover, the new Solution accelerator automates the steps necessary to manage any subsequent investigation and supports the sophisticated case management of alerts.

The new Market Surveillance and Monitoring Solution accelerator is built on the Progress Responsive Process Management (RPM) suite which was launched in India last month.

“The financial trading market carries high risk of fraudulent and erroneous activity which is difficult to control. This is as much a reality in India as in the rest of the global markets. This is primarily because of the massive increase in trading venues and vehicles which has created a fragmented and complex marketplace that is increasingly difficult to regulate,” said Kaushal Mashruwala, Regional Vice President, Progress Software India. “It is imperative to be able to keep a track of these mistakes and frauds before they take place which will otherwise result in market fluctuations. Real-time market surveillance across trading destinations, and across trading firms, helps to anticipate and to prevent these from happening before it is too late.”