Deutsche Börse has announced that it has signed a 5-year agreement with the Stockholm-based independent surveillance technology provider Scila to continue its use of Scila Surveillance, which has already been in production since 2011. For the last four years, Scila has provided state of the art surveillance technology for Deutsche Börse Group’s two largest exchanges – the Frankfurt Stock Exchange and the derivatives market Eurex – and the bond trading venue Eurex Bonds.
Under the new agreement, Deutsche Börse will have access to an increasing portfolio of alert rules and reports as well as a wide range of functionality related to data visualization and analysis of high-frequency and algorithmic trading, unusual trading patterns and e-communication. As a result of the German HFT Act, Scila has developed a bespoke functionality which enables Deutsche Börse to track and monitor algorithmic trading on a detailed level.
“Scila has proven its value over the last years and we are therefore continuing our constructive cooperation. The Scila surveillance technology is a leading tool which enables us to stay ahead of recent and upcoming market changes. Working with Scila has been a very productive and target-oriented experience”, said Michael Zollweg, Head of Trading Surveillance Office.
“We are very proud to announce our continued cooperation with Deutsche Börse. The experts at Deutsche Börse have provided us with important input on how we can develop our product and add new functionality relevant for upcoming regulations such as MiFID II and the new Market Abuse Regulation (MAR) which will come into force in 2016,” added Lars-Ivar Sellberg, Executive Chairman and one of the Co-Founders at Scila.