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Trade Surveillance

Protect and Monitor your Trading

OneTick Surveillance is a market leading solution used by tier 1 banks, routing and executing brokers, clearing firms, FCMs, market-makers, retail brokers, and buy-side firms in both fully hosted and deployed configurations. For example, it is in use by a global bank to satisfy MAR and the FCA’s Forex remediation requirements across multiple desks, by the world’s largest options broker, and by a major US clearing broker to meet CFTC surveillance requirements. OneTick includes coverage of MAR, MIFID II, SEC, FINRA, and IIROC trade surveillance regulation.

The solution an integrated, real-time examination of order flow for regulated entities and marketplaces and includes end-to-end breach detection, alert workflow management and historical replay activities. It is a complete out-of-the-box solution including pre-coded compliance rules, parametrized alert thresholds, email notification, alert monitors, visual dashboards and market data.

You can be up and running with a fully-hosted surveillance platform within a week if you provide your order flow in the FIX format. We have tick data readily available for global equities, global futures, and US options as well as the ability to work with your market data provided by customers.

OneTick Trade Surveillance includes a web dashboard designed for the efficient review of surveillance alerts, rapid examination of new alerts, and for assigning, reviewing, annotating, and archiving them as part of an auditable resolution workflow.

Trade Surveillence

Built on top of the OneTick proprietary tick database and stream processing platform, the solution is comprised of pre-built, configurable alert rules and monitors along with the tools and user interface to manage, track and audit alerts. Surveillance alerts are built as OneTick query models. The OneTick platform provides a modeling tool for the rapid design, development and deployment of custom surveillance alerts.


  • features1OneTick Market Surveillance comes with a built-in set of Alerts designed to meet the needs of introducing and executing brokers. These include:

    • Layering & Spoofing
    • High/Unusual Volume Detection
    • Quote Stuffing
    • Order-to-Cancel Ratio
    • Marking the Close
    • Wash Trading

    The powerful underlying database and query engine makes easy for our surveillance experts to add new alert types faster than our competitors.

        Additionally, OneTick Market Surveillance supports the surveillance and compliance needs of market makers:

      • Compliance for continuous quoting
      • Locked/Crossed markets
      • Maximum quote width and quote size
      • Cross instrument/cross market manipulation
      • Momentum ignition detection
  • benefits icon
    • A Comprehensive, Out-of-the-box Solution - OneTick Market Surveillance includes pre-coded compliance rules, parameterized alert thresholds, email notification, alert monitors and visual dashboards and market data.

    • Multiple Deployment Options – OneTick Market Surveillance solution is a fully packaged solution that can be in-house deployed or as a hosted subscription service fully managed by OneMarketData. All you need to provide are your orders and executions - either on-line or in batch for analysis.

    • Flexible Notifications – includes real time / intraday alerts through visual dashboards and email notifications and T+1 reports.

    • Budget Friendly – outsource your trade surveillance and compliance obligations at a cost far below in house development and competitive products.

    • Extensible Features - built on top of the OneTick proprietary tick database and stream processing platform, OneTick Market Surveillance is comprised of pre-built, configurable alert rules in support of executing brokers; layering and spoofing, quote stuffing, wash trading, marking the close and many more. Along with the tools and user interface to manage, track and audit alerts, new alert definitions are easily added using the OneTick model construction tool.
    • Avoiding Priority - Triggered when a trader enters an order at the BBO when likelihood of execution is low, and cancels it before it reaches the front of the order queue, when likelihood of execution is higher. This is an indicator for posting orders without the intent to trade. Also known as Post and Cancel. 

    • Best Execution – The alert is raised when a stop loss or a take profit order is executed away from its limit rate.

    • Cross Trade – Raised when distinct traders from one group execute buy and sell-side orders for the same price and quantity at the same time (similar to Wash Trade Alert but for group). Cross trades may be done to generate commissions for brokers or to artificially increase trading volume. Also known as Matched Trades.

    • Cross-market Manipulation – Detects buying and selling an underlying in order to artificially move the prices of corresponding options with the purpose of making a profit in options trading.

    • Cross-market Ramping - For correlated instruments, detects strongly imbalanced flow on one side of the market within a defined time period, followed by a price movement in the direction of the trades (e.g., buy imbalance followed by upward price movement). Applies the logic of the Momentum Ignition (or Ramping) Alert Typeto correlated instruments.

    • Crossed Markets -Routing an order that crosses the market. Meant to be applied to flows in which aggressive, spread-crossing limit orders are not expected.

    • Distortion - Detects placement of excessively large orders near the top of the order book.

    • Fix Manipulation - Detect a manipulative practice in the FX markets in which order volume near or during the daily fix period may influence the fix price. Similar to Marking the Close.

    • Front Running - The alert is raised if a 'protected' order may have been front-run.

    • High Order-to-Fill - The alert is triggered when the order-to-fill ratio exceeds a given threshold in a given time window.

    • High Volume - Triggered when traded volume is large relative to the total volume traded on the market.

    • Insider Trading - Insider Trading Alert is raised when trader's behavior may indicate knowledge of the news before its public release.

    • ISO Surveillance - Detects the case that one or more ISO orders in a wave traded through (or were routed with the intent to trade through) a protected NMS market, and other ISO orders in the wave were not routed to execute against or did not in fact execute against the full top-of-book size of better protected NMS markets.

    • Layering - Detect a pattern of placement of non-bona fide orders in the book for the purpose of inducing same-side flow from other market participants. Detect the placement of orders without the intent to trade. See Spoofing.

    • Limit Up Limit Down - Raised when an order was sent to the market when one of the exchanges was halted for Limit Up - Limit Down (LULD).

    • Locked Markets - Report the execution of an order when the market is in a locked condition.

    • Marking the Close - Detect a possible attempt to manipulate the closing or other benchmark price. Also known as Banging the Close. See Fix Manipulation.

    • Marking the Open - Detect a possible attempt to manipulate the market opening or other benchmark price. See Fix Manipulation.

    • Mispriced ISO - Detects apparent mis-pricing of individual ISO orders in a wave, in cases where the ISO Surveillance alert did not trigger. Related to the ISO Surveillance alert type.

    • Momentum Ignition - Detect strongly imbalanced traded flow associated with price movement in the same direction (e.g., buy imbalance followed by upward price movement).

    • Not Executed - Raised when a client stop loss or take profit order was not executed even though it should have been.

    • Not in Sequence -Raised when two orders with the same economic details e.g (price, order type, side) are filled out of order: i.e., if a newer order had partial fill/fill before an older order was filled.

    • On Close On Open - Raised when a trader submits or cancels an MOC/LOC order after the cutoff closing time.

    • Painting the Tape - Trading solely to create impression of activity. A trades-based version of Quote Stuffing. Imitation of marker making behavior.

    • Partial Fill - Raised when a trader's executed order is followed by a partial fill to a client.

    • Pinging - Entering small orders in order to ascertain the level of hidden orders and particularly to assess what is resting in dark pools.

    • Post and Cancel - Triggered when a trader enters an order at the BBO when likelihood of execution is low, and cancels it before it reaches the front of the order queue, when likelihood of execution is higher. This is an indicator for posting orders without the intent to trade. Also known as Avoiding Priority.

    • Post and Flip - Triggered when a large volume on one side is cancelled at BBO, followed by trading of volume on the opposite side.

    • Quote Stuffing - Triggered by a high rate of order cancellation that potentially creates non-informative market data traffic.

    • Ramping - Similar to Momentum Ignition but parameterized for detection of manipulation over a longer horizon.

    • RegSHO - Detect potential violations of US Regulation SHO (short sale rule).

    • Setting a Floor or Ceiling - Detect apparent trading to establish a price floor or price ceiling. Buy-side orders are examined for Floor manipulation and sell-side orders are examined for Ceiling manipulation.

    • Smoking - Detect "Posting orders to trade, to attract other market participants employing traditional trading techniques (“slow traders”), that are then rapidly revised onto less generous terms, hoping to execute profitably against the incoming flow of “slow traders’” orders to trade".

    • Spoofing - Detect a pattern of placement of non-bona fide orders in the book for the purpose of inducing same-side flow from other market participants. Detect the placement of orders without the intent to trade. See Layering.

    • Stop Loss Trigger - Detects trading that may be intended to trigger customer stop loss orders. Also known as 'gunning the market' and 'running the stops'.

    • Take Profit Front Running - Raised if a trader places orders at slightly better prices than a resting take profit order. Trader’s market orders are considered together with limit orders.

    • Trade Through - Detect a possible SEC Reg. NMS Rule 611 'Trade-through Rule' violation. This version is based only on intent, as evinced by order facts. See also the ISO Surveillance and Mispriced ISO alert types.

    • Wash Trade - Detect offsetting or partially-offsetting trades by the same trader. Wash trades may generate commissions for brokers or to artificially increase trading volume.

    The powerful underlying database and query engine makes easy for our surveillance experts to add new alert types faster than our competitors.
  • More on Market Surveillance:

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About Us

OneMarketData is a leading provider of software and data for the financial industry. Our flagship product, OneTick is a comprehensive suite for time-series data management and real-time analytical event processing. Proprietary traders, hedge funds and investment banks can leverage the built-in capabilities of OneTick for quantitative research, transaction cost analysis, surveillance and back-testing.   Built by Wall Street experts, the OneTick suite offers enterprise technology to address the most demanding requirements…

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