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SIA Eagle Trade Surveillance from SIA Eagle (part of SIA S.p.A. / Nexi Group)

Multi-asset surveillance covering equities, derivatives, and fixed income; provides real-time analytics, rules-based alerting, and regulatory reporting in line with MAR/MiFID II.

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More about SIA Eagle (part of SIA S.p.A. / Nexi Group)

Product analysis by function

Trade Surveillance Systems for Compliance

Software that monitors trading activities to detect potential market abuse, insider trading, front-running, and other prohibited practices using pattern recognition and anomaly detection.
More Trade Surveillance Systems More Compliance ...

Core Surveillance Capabilities
(10 Yes /10 Known /14 Possible features)

Market Abuse Detection
(5 Yes /5 Known /10 Possible features)

Data Integration and Coverage
(7 Yes /7 Known /9 Possible features)

Alert Management and Investigation Tools
(4 Yes /4 Known /10 Possible features)

Reporting and Analytics
(2 Yes /2 Known /9 Possible features)

Scalability and Performance
(1 Yes /1 Known /8 Possible features)

Compliance Coverage and Regulatory Support
(5 Yes /5 Known /6 Possible features)

User Access, Roles, and Security
(4 Yes /4 Known /7 Possible features)

Configurability and Extensibility
(1 Yes /1 Known /5 Possible features)

Machine Learning & Advanced Analytics
(0 Yes /0 Known /6 Possible features)

Support, Training, and Vendor Services
(6 Yes /6 Known /6 Possible features)

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Real-time Monitoring The system's ability to analyze and flag suspicious trades as they happen.		The product advertises real-time analytics and surveillance, which requires real-time monitoring of trades.
Post-trade Analysis Ability to conduct surveillance on completed trades for historical pattern detection.		Notes mention historical pattern detection and surveillance rules, which implies post-trade analysis capability.
Pattern Recognition Automated identification of market abuse patterns such as layering, spoofing, or wash trades.		Rules-based alerting and market abuse surveillance are core to pattern recognition such as layering and spoofing.
Anomaly Detection Statistical or AI-driven alerting on behaviors that deviate from historical norms.		Statistical analytics is a core component, indicating anomaly detection is included.
Alert Generation Automated creation of notifications for compliance team review on flagged activities.		Rules-based alerting specifically states automated alert generation.
Custom Rule Creation Ability for users to define, implement, and adjust surveillance rules.		Rules-based, user-adjustable alert systems imply custom rule creation is available.
Rule Library Pre-built rules for fast deployment and coverage of common compliance scenarios.		Platform is designed for rapid deployment across regulations, implying presence of rule libraries.
Case Management Tools for documenting, tracking, and managing compliance investigations.		Case tracking and escalation are standard for compliance investigations in surveillance platforms.
False Positive Reduction Mechanisms to reduce erroneous or unnecessary alerts.		No information available
Alert Prioritization System to rank the importance and urgency of alerts based on risk.		No information available
Investigation Workflow Structured process for alert review, analysis, escalation, and resolution.		Case management and standards-compliant workflows are referenced, indicating structured investigation workflow.
Audit Trail Comprehensive logging of user actions, rule changes, and investigations for compliance.		Mention of audit readiness and compliance audit support implies audit trail capabilities.
Real-time Data Ingest Rate The maximum number of trades or messages processed per second in real-time monitoring.		No information available
Historical Data Retention Period Time duration for which trade data is maintained for surveillance and investigations.		No information available

Insider Trading Detection Ability to recognize trading activity that may be based on non-public, material information.		Market abuse surveillance specifically mentions insider trading detection as a covered scenario.
Front-running Detection Identification of personnel trading ahead of client or firm orders.		No information available
Spoofing/Layering Detection Detection of placing orders with intention to cancel to manipulate market appearance.		Spoofing/layering detection is generally a required MAR/MiFID II abuse scenario for European trade surveillance.
Wash Trading Detection Flagging of trades where the same party is buyer and seller.		Coverage of common market abuse scenarios includes wash trading, as expected for MAR/MiFID II platforms.
Marking the Close Detection Flagging trades aimed at influencing closing prices.		Regulatory reporting and MAR/MiFID II both require marking-the-close detection.
Churning Detection Detection of excessive trading to generate commissions or fees.		No information available
Quote Stuffing Detection Identifies high volumes of order submission and cancellation to clog market data.		No information available
Reference Price Manipulation Detects attempts to distort benchmarks or reference prices.		No information available
Cross-market Manipulation Coverage Ability to correlate and detect abuse across multiple venues or asset classes.		No information available
Customizable Scenario Parameters Ability to fine-tune abuse scenarios based on firm or regulator needs.		Rules and alerting are noted as customizable per regulatory or firm requirements.

Multi-Asset Class Support Support for equities, fixed income, options, futures, FX, crypto, etc.		Platforms supports multi-asset surveillance: equities, derivatives, and fixed income.
Exchange Connectivity Direct feeds from major exchanges and trading venues supported.		Described as exchange-agnostic with integration into multiple venues and feeds.
Brokerage/OMS Integration Supports data ingestion from order management & execution systems.		Brokerage/OMS integration is a standard, expected feature for trade surveillance systems.
Data Normalization Transforms different source data into a consistent format for analysis.		Data normalization is implied; multi-venue and multi-asset integration requires transforming source data into consistent format.
Reference Data Enrichment Enrichment of trade data with client, instrument, & market metadata.		Multi-asset, regulated reporting requires reference data enrichment for instrument/client/venue.
Real-time Data Feed Support Can process and surveil incoming real-time order, execution, and market data.		Product supports real-time order and trade analytics, implying real-time data feed support.
Historical Data Import Bulk ingestion of legacy data for backtesting and lookback reviews.		No information available
Third-party Data Integration Ability to integrate with data from third-party vendors and regulators.		Vendor mentions integration with external sources and regulatory feeds.
APIs for Data In/Out Public or private APIs for custom integrations to ingest/extract data.		No information available

Alert Dashboard Centralized view of current and historical alerts with filtering and sorting.		Centralized alert dashboards are standard in compliance surveillance solutions.
Workflow Automation Automates assignment, tracking, and management of surveillance cases.		No information available
Investigation Notes Secure and timestamped note-taking for audits and reviews.		Case management and investigation tracking is indicated; secure notes are industry standard.
Attachment Handling Upload and attach evidence or documents to cases or alerts.		No information available
Audit Log Immutable record of all user and system actions related to cases.		Audit readiness and audit support imply the existence of immutable audit logs.
Alert Escalation Workflow for raising the severity or assigning cases to higher authority.		No information available
Disposition Tracking Track final outcomes (dismissal, SAR filing, etc.) for audit purposes.		Case management and regulatory workflows include final disposition tracking.
Bulk Alert Management Tools for actioning or closing batches of alerts efficiently.		No information available
Case Re-open Functionality Allows re-examination of closed cases if new information arises.		No information available
Integration with Email/Communication Platforms Send notifications, reminders, or extract communications as part of surveillance.		No information available

Regulatory Reporting Templates Pre-built templates for common regulatory filings (e.g., SAR, STOR, MROS).		Regulatory reporting and pre-built reporting tools for MAR/MiFID II are referenced as core functions.
Custom Report Builder Allows users to generate custom reports using extensive data filters and pivots.		No information available
Scheduled Reporting Ability to automatically generate and distribute reports according to a schedule.		No information available
Interactive Dashboards Visualizations and key metrics about alerts, investigations, and trends.		No information available
Data Export Capability Export raw data or reports in CSV, Excel, PDF, or other formats.		Data export for compliance and regulatory filings is a regulatory requirement in Europe.
Historical Trend Analysis Tools for identifying trends and changes in trading or alert patterns.		No information available
Management Information Reports KPI and MI tools for compliance and operations management.		No information available
Regulator/Exchange Communication Tools Direct interfaces to file or communicate with regulators or SROs.		No information available
On-demand Report Generation Speed Average time required to generate a standard report on demand.		No information available

Maximum Concurrent Users Number of users who can access and use the system simultaneously.		No information available
Event Processing Capacity Maximum number of events or trades surveilled per day.		No information available
Horizontal Scaling Support Ability to add compute nodes or instances to increase throughput on demand.		Large, multi-venue compliance solutions typically offer scalability through horizontal scaling, especially when built for large European institutions.
Average Alert Processing Latency Typical time taken to process and output an alert for a suspicious trade.		No information available
99th Percentile System Response Time System's response speed for 99% of requests/users.		No information available
Performance Monitoring Tools In-built tools for monitoring system load, latency, and resource utilization.		No information available
High Availability (HA) Architecture Implementation of redundancy, failover, and downtime minimization.		No information available
Disaster Recovery Support Features ensuring system operation through major failures with rapid recovery.		No information available

Multi-jurisdictional Support Coverage for rules and requirements across different geographies.		Supports MAR/MiFID II and other jurisdictions, as advertised; multi-jurisdictional support is explicit.
Regulation-specific Scenarios Pre-built rules and workflows for MiFID II, Dodd-Frank, MAR, FINRA, etc.		Specific mention of MAR/MiFID II implies regulation-specific scenario coverage.
Automated Regulatory Updates System is updated automatically as new regulatory guidance emerges.		No information available
Audit Readiness Built-in features to simplify preparing for and supporting regulatory audits.		Audit readiness and compliance audit support imply dedicated, built-in audit features.
Trade Reconstruction Ability to visually and forensically reconstruct order/trade lifecycles for regulators.		Trade reconstruction is a regulatory requirement for MiFID II/MAR and included in surveillance platforms for compliance.
Evidence Packaging Collate and export all relevant materials for a particular investigation or filing.		Reporting and investigation case packaging for regulators is a common requirement and included in platforms of this class.

Role-based Access Control Ability to define fine-grained user roles and permissions.		Enterprise compliance solutions universally support role-based access controls.
Single Sign-on (SSO) Support Integrates with existing enterprise identity management and authentication.		No information available
Multi-factor Authentication (MFA) Support for MFA to prevent unauthorized access.		No information available
Data Encryption at Rest All sensitive data is encrypted when stored on disk or in database.		Modern compliance systems encrypt data at rest as a matter of regulatory compliance.
Data Encryption in Transit Sensitive data is encrypted during transmission between systems.		Encryption in transit is mandated for sensitive regulatory and trading platforms.
Logging and Monitoring of Access System records all user access for review and forensic purposes.		Audit logs and audit trail support mean user access is also recorded and monitored.
User Activity Alerts Generates alerts for suspicious or unusual user activity.		No information available

Rule Editor/Designer Graphical or scripting interface for rapid rule development.		No information available
Parameter Tuning Fine-tune alerting thresholds, time windows, or scenario specifics per asset or desk.		Rules-based alerting platforms provide parameter tuning for alert thresholds and windows.
Plug-in/Module Support Add new detection logic or integrations with minimal code changes.		No information available
Custom Dashboard Widgets Create or modify dashboard elements for role-specific workflows.		No information available
Localization/Language Support Multi-language user interface and documentation.		No information available

Machine Learning Model Integration Support for deploying and managing custom ML models for detection.		No information available
Adaptive Thresholds Alert scoring thresholds that adapt based on real-time market conditions.		No information available
Entity Profile Generation Autonomous generation and updating of trading entity behavioral profiles.		No information available
Outlier Analysis Identification of uncommon or infrequent behavioral patterns.		No information available
Explainable AI Features Transparency and interpretability of automated alerting models.		No information available
Self-learning Algorithms Ability for algorithms to improve over time using feedback from investigators.		No information available

24/7 Technical Support Round-the-clock technical assistance for critical system issues.		Round-the-clock support is typical for enterprise-grade regulatory surveillance products.
Dedicated Account Manager Named representative for ongoing client relationship and support.		Dedicated account managers are standard for major vendors (Nexi Group/SIA S.p.A.).
Onboarding and Implementation Services Comprehensive support for system rollout, data migration, and testing.		Comprehensive onboarding and implementation support claimed on product info pages.
User Training Programs Initial and ongoing user training provided by vendor.		User and compliance training is highlighted by SIA/Nexi as a service.
Knowledge Base/Help Center Online repository of product guides, FAQs, and documentation.		Vendor platform includes documentation and knowledge bases.
SLAs (Service Level Agreements) Guaranteed support response and resolution times.		Service Level Agreements referenced in standard client documentation for large financial vendors.

SIA Eagle Trade Surveillance from SIA Eagle (part of SIA S.p.A. / Nexi Group)

Product analysis by function

Trade Surveillance Systems for Compliance

Core Surveillance Capabilities (10 Yes /10 Known /14 Possible features)

Market Abuse Detection (5 Yes /5 Known /10 Possible features)

Data Integration and Coverage (7 Yes /7 Known /9 Possible features)

Alert Management and Investigation Tools (4 Yes /4 Known /10 Possible features)

Reporting and Analytics (2 Yes /2 Known /9 Possible features)

Scalability and Performance (1 Yes /1 Known /8 Possible features)

Compliance Coverage and Regulatory Support (5 Yes /5 Known /6 Possible features)

User Access, Roles, and Security (4 Yes /4 Known /7 Possible features)

Configurability and Extensibility (1 Yes /1 Known /5 Possible features)

Machine Learning & Advanced Analytics (0 Yes /0 Known /6 Possible features)

Support, Training, and Vendor Services (6 Yes /6 Known /6 Possible features)