SunGard Enhances its Protegent Market Abuse Solution to Help Customers Address Latest Dodd-Frank Rules
December 4, 2012 — New York
SunGard has extended the capabilities of its Protegent market abuse solution to help firms comply with the Dodd-Frank Act’s anti-manipulation requirements, including the latest rules from the U.S. Commodity Futures Trading Commission.
The CFTC has adopted a new rule that makes it easier to prove fraud and manipulation in the derivatives markets and expands the Commission’s authority into new areas, such as commodities and swaps. In addition, the Securities and Exchange Commission intends to expand its anti-manipulation provisions to security-based swaps and impose broader liability with respect to securities generally.
Although many firms maintain manual anti-manipulation records, the complexity and interconnectedness of these new and expanded requirements make automation a top priority.
To help customers comply with the new rules, SunGard has enhanced Protegent with the following:
• An extended rules library to help flag potential instances of market abuse as outlined by the CFTC’s anti-manipulation rules
• Market data from more than 160 trading venues globally, which customers can use to help them distinguish market anomalies from potential acts of manipulation
• Case management tools to help increase the productivity of surveillance staff
• Enhanced reporting graphics and user dashboard
Miranda Mizen, principal and director of equities research at Tabb Group, said, “Market abuse is on regulators’ radars at the moment. Market participants need increasingly sophisticated and flexible surveillance capabilities as regulatory demands broaden and clients become more discerning. Businesses are complex, and data is voluminous and distributed, requiring surveillance systems that can efficiently and effectively offer multi-dimensional capabilities.”
Steve Sabin, chief operating officer of SunGard’s Protegent business unit, said, “Under Dodd-Frank, most trading firms, banks, insurance companies, hedge funds and brokers will have to adequately measure and monitor all variables of anti-manipulation. They need fully automated systems to help ensure compliance without negatively affecting productivity. SunGard has extensive experience in market surveillance, which underlies the ongoing development of its Protegent solution. Protegent helps each customer manage their specific compliance requirements without creating burdensome IT or vendor dependencies, costs and timelines.”
About SunGard's Protegent
SunGard's Protegent is a suite of solutions that help automate financial institutions’ compliance processes. It helps give financial institutions transparency into their data while helping them to enforce and document their compliance policies and procedures. Protegent’s solutions cover social media review, personal trading oversight, market abuse, Reg NMS, Order Audit Trail System (OATS), and transaction supervision and surveillance review. For more information, please visit www.sungard.com/protegent.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and is ranked 480 on the Fortune 500. For more information, please visit www.sungard.com.
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