NOTasdaq recently announced a technology agreement with DBS Bank. DBS will leverage Nasdaq’s advanced and robust technology as it seeks to advance its surveillance capabilities and continue to protect its clients from market abuse.
DBS Bank, a leading financial services group in Asia, will leverage Nasdaq technology to advance its market surveillance and integrity efforts. Born and raised in Asia, with a presence in 18 markets, DBS provides a full range of personal, SME and corporate banking services, navigating the intricacies of doing business in some of the most dynamic markets in the region.
Headquartered in Singapore and listed on the Singapore Stock Exchange, DBS has been recognized for its global leadership in the banking world, receiving numerous accolades such as “World’s Best Bank” and “World’s Best Digital Bank” by Euromoney, “World Bank of the Year” and “Best Bank in the World” by Global Finance. Additionally, DBS has received the “Safest Bank in Asia” award from Global Finance for 13 consecutive years. At the forefront of harnessing technology and digital solutions to shape the future of the industry, they have been named “Most Innovators in Digital Banking” by The Banker.
Nasdaq’s trading monitoring solution will enable DBS to improve its ability to analyze comprehensive market abuse monitoring scenarios and detect trading anomalies. The technology will provide DBS with a consolidated, flexible and user-friendly view to manage and monitor market abuse risk across multiple sites and asset classes, while enabling DBS’ trade monitoring team to detect, investigate and document a wide range of market abuse behavior via personalized alerts.
Chin Siong Ko, Chief Operating Officer of DBS Vickers, the brokerage arm of DBS, said of the technology agreement, “The trust that the markets and our customers place in DBS as a safe and reliable banking group relies on our ability to detect and react. to anomalous activity, which in turn requires a strong monitoring and prevention infrastructure. This is an area to which DBS has given a great deal of attention, and the Nasdaq solutions add to the suite of cutting-edge technologies that DBS is deploying to enhance our surveillance capabilities at all levels and will allow us to better protect the interests of our customers.
Regarding exactly how Nasdaq Trade Surveillance will help DBS, Ko commented, “Nasdaq Trade Surveillance will enable DBS to advance its surveillance and market integrity efforts by leveraging Nasdaq’s technology and capabilities to effective monitoring of market conduct across multiple trading platforms and asset classes.. The technology will provide DBS with a consolidated, flexible and user-friendly view to detect trading anomalies and analyze comprehensive market abuse scenarios through personalized alerts.
Nasdaq Trade Surveillance provides the flexibility for targeted regional alerts designed explicitly for each market that incorporate specific market rules, relative liquidity/volatility, and jurisdictional regulatory requirements. Used across all institutional segments, the technology will improve DBS’s ability to detect and respond quickly to potential market abuse risks and help analysts optimize their time spent.
DBS believes that its investments in infrastructure and technology capabilities over the past eight years have given it a competitive advantage to serve its customers and protect their interests. Over the next five to ten years, DBS will continue to invest in technologies such as artificial intelligence and machine learning to strengthen its surveillance capabilities, which in turn will strengthen the trust that its customers already place in DBS. .
DBS joins the growing community of Asia-Pacific financial institutions that are leading the way in digital banking and technology investments. As Nasdaq continues to focus on expanding its presence in the APAC region, this Nasdaq – DBS technology partnership will propel DBS’s market integrity efforts and continue to build the trust its customers and growing community place in at DBS.