Comprehensive real-time monitoring of trading activities, anomaly detection, alerts, and detailed reporting features designed to identify potential market abuse and insider trading.
Software that monitors trading activities to detect potential market abuse, insider trading, front-running, and other prohibited practices using pattern recognition and anomaly detection.
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Real-time Monitoring The system's ability to analyze and flag suspicious trades as they happen. |
Product notes and documentation state 'comprehensive real-time monitoring of trading activities' indicating real-time monitoring is core functionality. | |
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Post-trade Analysis Ability to conduct surveillance on completed trades for historical pattern detection. |
SMARTS supports post-trade surveillance for identifying unusual patterns and generating retrospective investigations. | |
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Pattern Recognition Automated identification of market abuse patterns such as layering, spoofing, or wash trades. |
Notes state explicit focus on identifying market abuse, suggesting pattern recognition features for actions like spoofing or layering. | |
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Anomaly Detection Statistical or AI-driven alerting on behaviors that deviate from historical norms. |
Anomaly detection is called out in the description as a key capability. | |
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Alert Generation Automated creation of notifications for compliance team review on flagged activities. |
Automated alerts for potentially suspicious activity are referenced directly in the notes. | |
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Custom Rule Creation Ability for users to define, implement, and adjust surveillance rules. |
SMARTS allows compliance users to define/customize surveillance rules for their firm. | |
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Rule Library Pre-built rules for fast deployment and coverage of common compliance scenarios. |
Pre-built rule library is standard in SMARTS for rapid coverage of common compliance scenarios. | |
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Case Management Tools for documenting, tracking, and managing compliance investigations. |
SMARTS platforms offer built-in case management modules for tracking/following investigative workflows. | |
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False Positive Reduction Mechanisms to reduce erroneous or unnecessary alerts. |
SMARTS documentation emphasizes false positive reduction as an operational benefit of their models/analytics. | |
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Alert Prioritization System to rank the importance and urgency of alerts based on risk. |
Alerts are triaged and prioritized in the system according to risk, as described in their marketing/feature lists. | |
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Investigation Workflow Structured process for alert review, analysis, escalation, and resolution. |
Structured investigation workflows are a noted part of the product's feature set. | |
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Audit Trail Comprehensive logging of user actions, rule changes, and investigations for compliance. |
Audit trails are mentioned in product materials as supporting regulatory/compliance requirements. | |
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Real-time Data Ingest Rate The maximum number of trades or messages processed per second in real-time monitoring. |
No information available | |
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Historical Data Retention Period Time duration for which trade data is maintained for surveillance and investigations. |
No information available |
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Insider Trading Detection Ability to recognize trading activity that may be based on non-public, material information. |
SMARTS is widely used for detection of insider trading and partner manipulation, as claimed by their site. | |
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Front-running Detection Identification of personnel trading ahead of client or firm orders. |
SMARTS advertises detection of front-running events as part of their market manipulation capabilities. | |
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Spoofing/Layering Detection Detection of placing orders with intention to cancel to manipulate market appearance. |
Detection of spoofing and layering highlighted in product sheets and whitepapers. | |
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Wash Trading Detection Flagging of trades where the same party is buyer and seller. |
Wash trading is a classic focus of SMARTS surveillance campaigns/modules. | |
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Marking the Close Detection Flagging trades aimed at influencing closing prices. |
Marking the close is specifically referenced in market abuse pattern detection use cases. | |
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Churning Detection Detection of excessive trading to generate commissions or fees. |
Churning and other excessive trading practices are listed in SMARTS documentation as recognized abuses. | |
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Quote Stuffing Detection Identifies high volumes of order submission and cancellation to clog market data. |
Quote stuffing and related high-frequency abuses are mentioned in technical release notes. | |
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Reference Price Manipulation Detects attempts to distort benchmarks or reference prices. |
Reference price manipulation included in the list of abuse patterns SMARTS handles. | |
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Cross-market Manipulation Coverage Ability to correlate and detect abuse across multiple venues or asset classes. |
SMARTS features cross-market surveillance, supporting multiple venues/asset class correlation. | |
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Customizable Scenario Parameters Ability to fine-tune abuse scenarios based on firm or regulator needs. |
Users can tune abuse detection scenario parameters per regulatory needs. |
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Multi-Asset Class Support Support for equities, fixed income, options, futures, FX, crypto, etc. |
SMARTS supports a range of asset classes: equities, derivatives, FX, and more. | |
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Exchange Connectivity Direct feeds from major exchanges and trading venues supported. |
Direct exchange and venue feed connectivity is advertised as a product core feature. | |
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Brokerage/OMS Integration Supports data ingestion from order management & execution systems. |
Supports OMS/Brokerage system direct integration for ingesting trade/order data. | |
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Data Normalization Transforms different source data into a consistent format for analysis. |
Data normalization is required for ingesting multi-source data, confirmed in technical documentation. | |
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Reference Data Enrichment Enrichment of trade data with client, instrument, & market metadata. |
Trade data enriched with client/instrument/market data, as described in feature brochures. | |
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Real-time Data Feed Support Can process and surveil incoming real-time order, execution, and market data. |
Processes and surveils real-time order and market data, as highlighted in marketing materials. | |
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Historical Data Import Bulk ingestion of legacy data for backtesting and lookback reviews. |
Historical trade data imports are supported for backtesting and surveillance purposes. | |
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Third-party Data Integration Ability to integrate with data from third-party vendors and regulators. |
SMARTS advertises integration support for third-party market data and regulatory feeds. | |
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APIs for Data In/Out Public or private APIs for custom integrations to ingest/extract data. |
API capabilities for data ingest and export are part of the advertised integration suite. |
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Alert Dashboard Centralized view of current and historical alerts with filtering and sorting. |
Centralized alert dashboards for compliance team use are core to product user interface. | |
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Workflow Automation Automates assignment, tracking, and management of surveillance cases. |
SMARTS automates case assignment/alert tracking through workflow automation modules. | |
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Investigation Notes Secure and timestamped note-taking for audits and reviews. |
Investigators can record, timestamp, and audit investigation notes in the system. | |
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Attachment Handling Upload and attach evidence or documents to cases or alerts. |
Documentation and product UI support attachment upload/evidence handling. | |
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Audit Log Immutable record of all user and system actions related to cases. |
SMARTS provides an immutable case action log to support compliance efforts. | |
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Alert Escalation Workflow for raising the severity or assigning cases to higher authority. |
Support workflow for escalating alerts or assigning cases to higher-tier users. | |
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Disposition Tracking Track final outcomes (dismissal, SAR filing, etc.) for audit purposes. |
Tracks final disposition of historic and in-progress alerts/cases. | |
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Bulk Alert Management Tools for actioning or closing batches of alerts efficiently. |
Bulk action tools exist for efficient mass closing/actioning of alerts. | |
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Case Re-open Functionality Allows re-examination of closed cases if new information arises. |
Allows cases to be reopened if new evidence or information emerges. | |
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Integration with Email/Communication Platforms Send notifications, reminders, or extract communications as part of surveillance. |
Integration with email/comms platforms is cited for surveillance and alerting. |
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Regulatory Reporting Templates Pre-built templates for common regulatory filings (e.g., SAR, STOR, MROS). |
Pre-built templates for regulatory reporting are available in documentation for SMARTS. | |
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Custom Report Builder Allows users to generate custom reports using extensive data filters and pivots. |
Custom reporting and data export/filtering are core capabilities listed in system datasheets. | |
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Scheduled Reporting Ability to automatically generate and distribute reports according to a schedule. |
Scheduled report runs/exports are described in product features. | |
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Interactive Dashboards Visualizations and key metrics about alerts, investigations, and trends. |
Interactive dashboards with visualization widgets standard in product demonstrations. | |
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Data Export Capability Export raw data or reports in CSV, Excel, PDF, or other formats. |
Data/report export capabilities in various formats (CSV, Excel) are detailed in product documentation. | |
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Historical Trend Analysis Tools for identifying trends and changes in trading or alert patterns. |
Historical pattern/trend analytics presented as a standard analytical tool in the system. | |
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Management Information Reports KPI and MI tools for compliance and operations management. |
Management/MI reporting tools for compliance/ops described in product literature. | |
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Regulator/Exchange Communication Tools Direct interfaces to file or communicate with regulators or SROs. |
Direct regulator/exchange comms tools referenced for direct filing/SRO connectivity. | |
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On-demand Report Generation Speed Average time required to generate a standard report on demand. |
No information available |
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Maximum Concurrent Users Number of users who can access and use the system simultaneously. |
No information available | |
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Event Processing Capacity Maximum number of events or trades surveilled per day. |
No information available | |
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Horizontal Scaling Support Ability to add compute nodes or instances to increase throughput on demand. |
SMARTS is (cloud or on-prem) horizontally scalable to meet throughput needs, as stated in technical sheets. | |
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Average Alert Processing Latency Typical time taken to process and output an alert for a suspicious trade. |
No information available | |
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99th Percentile System Response Time System's response speed for 99% of requests/users. |
No information available | |
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Performance Monitoring Tools In-built tools for monitoring system load, latency, and resource utilization. |
System includes monitoring dashboard/tools for load, data ingest, and alert processing. | |
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High Availability (HA) Architecture Implementation of redundancy, failover, and downtime minimization. |
System architecture is designed for high availability with minimal downtime, per platform specs. | |
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Disaster Recovery Support Features ensuring system operation through major failures with rapid recovery. |
Disaster recovery options and service are described for regulated environments. |
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Multi-jurisdictional Support Coverage for rules and requirements across different geographies. |
SMARTS coverage for global regulations is a key market differentiator. | |
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Regulation-specific Scenarios Pre-built rules and workflows for MiFID II, Dodd-Frank, MAR, FINRA, etc. |
Regulation-specific scenarios for MiFID, Dodd-Frank, MAR, etc. cited in sales and brochures. | |
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Automated Regulatory Updates System is updated automatically as new regulatory guidance emerges. |
Automated updates for new regulatory requirements are described as available for clients. | |
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Audit Readiness Built-in features to simplify preparing for and supporting regulatory audits. |
SMARTS includes audit readiness features for regulatory exam support. | |
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Trade Reconstruction Ability to visually and forensically reconstruct order/trade lifecycles for regulators. |
Order/trade lifecycle reconstruction tools referenced in compliance documentation. | |
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Evidence Packaging Collate and export all relevant materials for a particular investigation or filing. |
Evidence packaging and export for regulatory/compliance filings supported in workstation. |
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Role-based Access Control Ability to define fine-grained user roles and permissions. |
Role-based permissioning/user control is standard in enterprise compliance software. | |
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Single Sign-on (SSO) Support Integrates with existing enterprise identity management and authentication. |
Single sign-on (SSO) compatibility is called out in technical integration documentation. | |
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Multi-factor Authentication (MFA) Support for MFA to prevent unauthorized access. |
Multi-factor authentication listed as supported security feature. | |
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Data Encryption at Rest All sensitive data is encrypted when stored on disk or in database. |
Data encryption at rest supported per industry standards. | |
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Data Encryption in Transit Sensitive data is encrypted during transmission between systems. |
Data in transit encrypted via TLS/SSL according to security documentation. | |
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Logging and Monitoring of Access System records all user access for review and forensic purposes. |
User access logging and monitoring are core features for compliance auditing. | |
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User Activity Alerts Generates alerts for suspicious or unusual user activity. |
User activity monitoring and alerting is described as part of SMARTS security. |
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Rule Editor/Designer Graphical or scripting interface for rapid rule development. |
Rule editor with graphical/scripting interfaces for custom logic. | |
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Parameter Tuning Fine-tune alerting thresholds, time windows, or scenario specifics per asset or desk. |
Parameter and threshold tuning supported per asset/per desk. | |
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Plug-in/Module Support Add new detection logic or integrations with minimal code changes. |
Supports deployment of plug-ins and additional modules for detection/integration. | |
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Custom Dashboard Widgets Create or modify dashboard elements for role-specific workflows. |
Dashboard widgets can be configured for different user/role needs. | |
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Localization/Language Support Multi-language user interface and documentation. |
SMARTS supports language/localization for international deployments. |
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Machine Learning Model Integration Support for deploying and managing custom ML models for detection. |
SMARTS includes ML-driven anomaly/pattern detection; supports integration and tuning of custom ML models. | |
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Adaptive Thresholds Alert scoring thresholds that adapt based on real-time market conditions. |
Machine learning/blended rule models enable adaptive thresholds. | |
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Entity Profile Generation Autonomous generation and updating of trading entity behavioral profiles. |
Entity profiling and behavior analysis included in analytics suite. | |
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Outlier Analysis Identification of uncommon or infrequent behavioral patterns. |
Outlier detection modules highlight rare or infrequent behavioral patterns. | |
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Explainable AI Features Transparency and interpretability of automated alerting models. |
Explainable AI and transparency of ML/alert scoring/investigation capabilities are referenced. | |
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Self-learning Algorithms Ability for algorithms to improve over time using feedback from investigators. |
System ML algorithms can improve via feedback from investigators, as described in product AI materials. |
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24/7 Technical Support Round-the-clock technical assistance for critical system issues. |
24/7 support described in service agreements and on vendor website. | |
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Dedicated Account Manager Named representative for ongoing client relationship and support. |
Dedicated account managers assigned to institutional clients. | |
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Onboarding and Implementation Services Comprehensive support for system rollout, data migration, and testing. |
Onboarding and implementation assistance described in client onboarding docs. | |
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User Training Programs Initial and ongoing user training provided by vendor. |
Extensive user training and ongoing programs provided as part of vendor agreements. | |
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Knowledge Base/Help Center Online repository of product guides, FAQs, and documentation. |
SMARTS client help center and knowledge base are public resources. | |
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SLAs (Service Level Agreements) Guaranteed support response and resolution times. |
Service Level Agreements (SLAs) for support/response detailed in vendor literature. |
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