With the increase in erroneous or abusive trading, the need for the deployment of trade surveillance systems is increasing. It helps to prevent market frauds and comply with government regulations.

- The major factor driving the market growth is the increasing instances of market manipulation and fraud across the world. These frauds and manipulations incur huge losses for the overall public as a whole. Hence, the need for pre and post monitoring of trading activities in financial institutions is driving market growth.

- Also, the increasing need for mandatory regulatory compliance is further augmenting market growth. Furthermore, with the expanding usage of social media, its impact on businesses worldwide is also increasing. Hence, the need for careful monitoring of the risks involved as part of the trends in the market is rising and thus further stimulating market growth.

- However, the lack of technical expertise due to the complex infrastructure of the trade surveillance systems is expected to hinder the market growth. Also, lack of awareness, especially among the small and medium enterprises (SMEs) in developing economies, is expected to act as another major restraining factor for the market growth.

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Key Market Trends

Cloud-based Platforms Expected to Grow Significantly

- Cloud-based trading activities are evolving rapidly owing to convenience due to digitalization and easy accessibility. However, with the growth of cloud-based trading activities, the need for trading surveillance is further increasing. Cloud-based trade surveillance systems are seeing a huge adoption rate as compared to the on-premise trade surveillance systems due to the host of benefits it offers.

- The cloud-based platforms or solutions deliver highly scalable performance and a robust environment for the development of these solutions. Also, AI technology is utilized to predict patterns in the captured data allowing for a standardized and efficient method of monitoring and surveillance of trade activities and maintain compliance in the industry.

- Further, various trade surveillance system providers are launching new products or product updates to adopt and provide cloud-based solutions. For instance, in June 2019, US securities and commodities broker INTL FCStone deployed a new trade surveillance technology platform from Eventus Systems to monitor its global futures activity. Following its recently announced expansion initiatives, INTL FCStone has also recently announced the expansion activities and has replaced its outsourced system and deployed the cloud version of Eventus Systems’ Validus market surveillance platform for greater cost efficiencies and capabilities.

North America is Expected to Dominate the Market

- North America is expected to dominate the trade surveillance system market in the forecast period, owing to the well-established trading services in the region. With the dominant position of the market trading in North America, the risk of fraud and manipulation is very high which increases the need to implement a trade surveillance system.

- Also, the high adoption of cloud-based trade surveillance systems by enterprises of all sizes and the regulations imposed by the governments in the region is expected to further augment market growth. Further, North America has always held a dominant position in technology adoption, hence stimulating the trade surveillance system market growth.

- According to an article in August 2019, Nasdaq is testing an artificial intelligence surveillance system to monitor its US stock market for new instances of exchange manipulation. The system will detect irregular trading patterns and alert exchange officials according to a machine-learnt protocol, enabling staff to
investigate and in certain cases remove fraudulent equity orders.

Competitive Landscape

The competitive landscape of the trade surveillance system market is moving towards fragmentation due to the increasing adoption of the solution worldwide. However, since the market is still developing, the market players are viewing continuous innovation. They are developing innovative and technologically integrated solutions as a path to stay ahead of the competitors. Also, many startup companies are raising funds and investing them to enter the market and attract maximum market share smoothly.

- September 2019 - NICE Actimize, provider of financial crime, risk and compliance solutions has unveiled SURVEIL-X, an AI-powered and cloud-native trade-related surveillance solution to revolutionize trade surveillance system.

- February 2019 - Solidus Labs, a startup founded by a team of former Goldman Sachs engineers and providers of a machine learning-powered trade surveillance platform tailored for digital assets, secured a USD 3 million seed round of financing to tackle the digital asset market manipulation.

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