Digital Reasoning has launched a new, AI-enabled voice analytics solution for voice communications monitoring in banks. Developed with input from its industry partners and customers, the firm claims it delivers market-leading transcription accuracy of financial domain audio data and seamless workflows that enable efficient scaling of audio monitoring coverage. Allied with the firm’s conduct surveillance […]
The FX Global Code of Conduct remains one of the biggest initiatives in the foreign exchange industry for many years, wide a wide spectrum of different market participants around the world participating in the creation of the principles contained within it. But given that the Code was introduced to address a specific issue – evidence […]
Profit & Loss understands that ACI UK is working with Corellian Trading Academy to pilot a two-day training programme on the FX Global Code of Conduct. At the end of the programme delegates will have the option to take the ACI Global Code Certificate examination, which was launched by ACI globally in May 2018. The […]
As can often be the case when writing an opinion column, I have been taken to task by the readership over the past couple of days over my criticism of “full amount” trading. To be fair to all parties, there is a big caveat, however, and that is that for this method to work my […]
In this week’s podcast Colin Lambert attempts to answer Galen Stops’ question, why are some banks fined more than others for what appears to be the same conduct? Stops then attempts to answer a long list of questions from Lambert on the “digital asset” world, and also shares some of his observations from a big […]
Digital Reasoning has announced the availability of a managed hosted version of its conduct surveillance solution on Google Cloud Platform and Amazon Web Services. Developed with Digital Reasoning’s banking partners, the firm says the solution brings its text and audio communications analytics to the world’s leading secure cloud infrastructures. It adds that compliance and front-office […]
Trading analysis and data science company Ideal Prediction has announced the addition of Natural Language Processing (NLP) to its automated analytics services. By incorporating NLP with machine learning, the firm says its service empowers clients to create and visualise new analytical graphs in real-time with no coding knowledge. Prior to NLP, all potential cases required […]
Regular readers will know that I volunteer to help run the ACI Australia Dealing Simulation Course around the world – I actually met a good number of you for the first time at that forum. In the last year the course has been looked at in terms of the FX Global Code and one or two new processes introduced, but last week in Denmark was the first chance I got to put some new ideas into action – and the results highlighted how easy it is to get confused by some aspects of market interaction, and also why the buy side needs to get onside.
Analytics and data science company Ideal Prediction, has unveiled Scope, an automated monitoring service, which analyses the behaviours of voice traders and trading algorithms in line with the principles of the FX Global Code.
The firm says Scope is already in production and automatically monitors order and trade activity, evidencing that humans and algorithms adhere to governance and risk controls. It specifically highlights potential issues like last look, spoofing, flashing, layering, order violations, limit breaches, and P&L flags, the company adds.
What is it that infected so many of the banks’ FX businesses at the end of 2013 that led to so many bad decisions being made? Was it a lack of focus, courage, or even sheer panic that underpinned the decision to roll over on legal actions brought by customers, but at the same time stand firm and fight unfair dismissal cases brought about by their own staff?
The question emerges because the stakes have been raised when it comes to unfair dismissals thanks to the awarding of £1.2 million to former RBC FX trader John Banerjee to compensate him for loss of earnings.