First Derivatives has signed a multi-year annual software licence with the Australian Securities and Investment Commission to provide a new market surveillance system, the company reported Thursday.
The Irish-based provider of software and consulting services will implement its Delta Stream, a market data capture and analytics platform.
The Australian government body will use Delta Stream to meet its statutory obligation to oversee the country's licensed financial markets.
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The platform, which was launched in 2008, will help monitor any prohibited market trading across the range of asset classes and products. The system screens different asset classes including equities and fixed income and analyses large data volumes using a single platform.
First Derivatives Chief Executive Officer Brian Conlon said: "We are delighted with the decision by ASIC to use Delta Stream as their chosen platform for market surveillance. Delta Stream will allow ASIC to quickly respond to evolving market regulations, the introduction of new products and projected increases in data volumes.
"The domain knowledge and technical capabilities of our professional services teams leave us ideally placed to design and manage the hosting of this solution and to partner with ASIC in developing analytics to help maintain efficient and orderly markets."
ASIC said the system would help interrogate data and monitor market activity as the complexity of the market grows with the increased use of technology and the faster and higher volume of trades.
First Derivative, which has a market capitalisation of £89.01m, has operations in London, New York, Stockholm, Shanghai, Singapore, Toronto, Sydney, Dublin, Newry and Hong Kong.
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