Trapets Introduces Outsourced Market Surveillance
Trapets is offering the program in two flavors ─ full or basic. Both include a full surveillance regime in which Trapets employees install the InstantWatch Market system and monitor transactions, reporting back to the firm periodically and immediately when necessary. The full version, however, will involve Trapets submitting suspicious transaction reports (STRs) directly to regulators, whereas in the basic version, STRs are referred back to the firm.
"The obligations for firms to monitor and keep track of their trading have increased over recent years and that trend will more than likely continue over the coming years," says says Gunnar Wexell, chairman at Trapets AB. "We are convinced that Trapets Outsourced Market Surveillance is the easiest, most reliable and most cost-efficient way for firms to be fully compliant regarding their responsibilities to carry out surveillance and submit STRs to the regulator."
Trapets Outsourced Market Surveillance will be headed up by Peter Nylén, former head of market surveillance at Burgundy, who joined Trapets last year.
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