The Surveillance & Enforcement department (SVE), which is responsible for trade surveillance within SIX Exchange Regulation (SER), realises another important milestone on its path to becoming one of the leading market surveillance departments globally . Cutting-edge technologies such as artificial intelligence, big data and a broader data universe are used. Insider Trading, the first module of the newly developed Prometheus application, went live the 1st September 2020.
Since the entry into force of the Financial Market Infrastructure Act (FMIA) reporting regime, SVE now has at its disposal more information regarding the beneficial owner of a transaction. The linking of trading data and this enhanced transaction data served as the impetus for the development of Surveillance 2.0 and thus also Prometheus - a holistic approach. Using innovative approaches and new technologies such as artificial intelligence, machine learning and big data, an in-house team of specialists collaborated with an external partner to create a powerful tool for tracking and uncovering potential insider trading in Switzerland.
And that’s not all: First half of 2021 a second module of Prometheus will be rolled out: Market Manipulation.