Market surveillance product of the year – LIST

Risk Technology Awards 2020

RRERTA20-web
Alvise Insalaco, LIST
Alvise Insalaco, LIST

LookOut is a cross-asset system for market surveillance, regulatory reporting and business analyses for buy- and sell-side investment firms and trading venues. The solution meets surveillance regulatory requirements for Europe, the US, Canada, Hong Kong, India, Indonesia and Singapore. 

The system’s high-performance, scalable pattern recognition engine can analyse orders, quotes, trades and public market data in real time. It looks for patterns across products that indicate activities such as market manipulation and insider trading, while monitoring market-making, trading obligations and market integrity. It is also able to monitor for best execution. The automated detection patterns examine both trading data and operators’ behaviour to ensure efficiency and minimise false positives. The system is able to generate alarms in near real time, as required by rules such as Europe’s Market Abuse Directive II and Market Abuse Regulation. 

LookOut includes a large catalogue of ready-to-use pattern detection algorithms to fulfil existing regulatory requirements and speed up implementation projects. Custom patterns and reports to meet particular institutions’ needs can also be developed. LIST continuously evolves its algorithms to support changes in regulations and advances in technology. The company’s research group recently released a machine learning toolkit to help improve detection quality. 

The system can be deployed as a single- or multi-tenant (for bank groups and service bureaux) solution, on-premises, or as a full service including facility and application management. To simplify the integration process, the system has a ‘collect data once, comply with multiple regulations’ approach, with extensive data quality checks. Comprehensive reporting functionality supports both internal and regulatory reporting.

LookOut features a web-based case management user interface that brings together contextualised market data, transactions, graphs and user data to simplify analysis. The system can run multiple scenarios – both production and what-if – without significant degradation in performance or response time.

Recently, the company introduced LookOut Analytics, with the first module for post-trade transaction cost analysis. It also extended its catalogue of off-the-shelf pattern detection algorithms for buy-side customers with an algorithm for wash trades, and a redesigned algorithm for frontrunning and tailgating. A module for Securities Financing Transaction Regulation-compliant record-keeping has also been added.

The judges said:

  • LIST’s LookOut is a multi-asset solution primarily for asset managers with real-time alarm generation. 
  • Good product coverage. Innovative and gaining clients.  
  • Strong, richly featured product with good performance. Reliable, with responsive maintenance updates and a future product strategy that is smart and pragmatic.

Alvise Insalaco, chief executive officer, LIST, says:

“Being named Best market surveillance product is an important achievement for LIST. The ability to evolve our solution in an environment that is highly competitive, where regulators continue to raise the stakes and technology is advancing rapidly, is key to our success. We invest steadily in research and technological innovation, and design state-of-the-art solutions and services to help our customers excel in their business and stay ahead of their competition. LookOut is a multi-asset solution for market surveillance, regulatory reporting and business analytics, designed specifically for global investment firms and trading venues, leveraging extensive data quality checks, data cleansing and synchronisation features.”

Read more about the Risk Technology Awards 2020 winners

 

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