'The days of traders saying something really dumb, which then gets picked up by a filter are largely gone'.
Bankers beware – big data are watching you.
Financial institutions are increasingly moving beyond employing traditional compliance systems, which have focused on monitoring electronic communications and transaction prices, and using state of the art surveillance software as they seek to stay one step ahead of wily bankers and traders.
The worry now is that bank employees will go underground to engage in illicit behaviour, prompting an internal race as compliance officers seek to root out malfeasance by 'front office' staff.
'The days of traders saying something really dumb, which then gets picked up by a filter are largely gone', said Michael O’Brien, global head of SMARTS Broker, Nasdaq’s market surveillance business.
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