TECHNICAL OVERVIEW

Market Patrol receives information from a variety of sources and uses this information to analyse trades to ensure they are compliant. If a potential problem is detected, an alert is generated so that the trade can be investigated. There are, in general, two categories of data that the system uses as shown in the diagram below. The trading information may come from your trading platform(s) or may be simply uploaded for analysis. The trading information may be just consist of orders and executions but may also include allocations to accounts or funds and position data. Where position data is provided then as well as trade alerts Market Patrol can also alert when a disclosure threshold is crossed. Market data and securities reference data can be provided from your own feeds or via one of our sources.

The standard rule set can be enhanced by using Watch Rules, which provide a very easy way for a user to add extra monitoring. Alternatively, we can provide customised rules that can use other data sources, like Know Your Customer (KYC) data or if your trade data contains extra information.

SCREENSHOTS

The following are some screenshots of the Market Patrol interface. If you would like to learn more about Market Patrol please do request a demonstration.

The examples are generated from realistic, not real data.

Recent Alerts

This screen shows the most recent alerts. It is configurable but is usually set to show the last few hundred. Alerts that have not been assigned cases are shown in green, unassigned in red. The blue highlighted row is the alert we will investigate in this example.

Alert Details

Clicking on the row highlighted in the previous screen brings up the alert details in the lower part of the split screen. There is a human-readable description of why the alert was generated along with details of the alerted event and relevant parameters (prices, statistics, timestamps, etc.). This text is usually emailed to the relevant compliance officer who can follow a link to get to this screen.

Chart of Market Context of Alert

When an event is selected (highlighted in blue as in the first screen), then clicking on the chart icon brings up a chart showing the relevant historical events and market data that make up the context of the alert. This initially shows a true timeline that has gaps where the market is closed, which can be helpful when taking an investigative view. Clicking on the icon in the top right corner switches to a more typical market view where these gaps are closed up.

Chart of Market Context of Alert - Zooming In

This shows the chart detail. Dragging the gripper icon in the timeline view allows a more detailed view of the area of interest.

Chart of Market Context of Alert - Alert Detail

Once we have homed in on the region of interest, hovering over any chart element give more information in a 'tooltip'. The red flags indicate alerted trades and the tooltip shows details of the alerted event. Clicking on a flag (not shown) pops up the full alert details.

Chart of Market Context of Alert - News Detail

Hovering over the news icon shows the headline and timestamp. The vertical line through the current mouse position is also useful for visualising that the news fully preceded the price move and so is plausible as a cause. The system has identified the pattern of a sell, followed by news, followed by a price fall. The responsible officer then needs to investigate and judge on the seriousness of the news and the timing of the events in the larger trading context merit and decide if it merits further investigation.

Supporting Events

If it is decided that an alert merits further investigation, Market Patrol provides various tools to help build a case. For example, clicking on the icon in the events column brings up a list of 'supporting events'. This is a list of events implicated in the alert pattern, in this case, the trade itself and the news item (screen detail shown). It is also possible to see the full list of events that make up the historical context, including trades on the same symbol that were not alerted. All list views can be exported to a spreadsheet format with a single click.

Opening a Case

Next to the supporting events icon is the open case icon. Clicking this brings up the next screen.

Opening a Case

This form (the whole form is not visible in the screen shot) is for a new case. Many elements are pre-filled and it is easy to attach notes, charts and spreadsheets. A 'filter' is also generated which can automatically add similar alerts within a time range into the newly created case. This is a valuable tool for compliance officers to reduce their workload by batching together related alerts.