STOCKHOLM--(BUSINESS WIRE)--Securities and Exchange Commission, SEC, in Bangladesh selected Trapets InstantWatch as the country builds up a modern market surveillance. The prestigious order is Trapets first in Asia.
Bangladesh Capital Market Authority (SEC) chose Trapets InstantWatch Market after a careful evaluating of 6 leading surveillance systems. InstantWatch is one of the market leading systems in Europe and it is used by a large number of banks, stock exchanges and other trading platforms to monitor trade of financial instruments. "We are proud to have won this order in a very professional procurement. It proves that our system holds top international class. This will also be an important reference order that hopefully will lead to more business in Asia", said Gunnar Wexell, chairman at Trapets AB.
InstantWatch is a very powerful platform for automatic transaction surveillance and compliance. It is used to detect i.e. insider trading and market manipulation. Every day more than 6 billion pattern analyses are carried out on 400 million transactions in InstantWatch.
Bangladesh has 170 million inhabitants approximately, several million shareholders and two stock exchanges.
"With InstantWatch from Trapets we hope we will significantly increase our ability to detect market abuse. It will make things much easier for us, signalling to investors that we strengthen market surveillance in Bangladesh which is essential to our work to increase confidence in the capital market sector in Bangladesh”, said Md. Saifur Rahman, Executive Director at SEC Bangladesh.
About Trapets
Trapets AB is an expert company specialized in systems for automatic transaction surveillance and compliance for the global finance industry. Trapets provides total solutions, from systems and support to expert consulting and training. The company is one of the market leaders in Europe regarding securities market surveillance and in Northern Europe regarding AML, anti money laundering surveillance and screening of end customers against sanctions, Ofac and PEP lists.
Trapets has developed the surveillance and compliance platform InstantWatch, which is one of the most modern, powerful and user friendly platforms for automatic surveillance and compliance in the world. The system analyses flows of transactions in real time, i.e. trades, orders and prices from stock exchanges, and alerts according to a configurable rule system.
Read more about Trapets at www.trapets.com
About Securities and Exchange Commission Bangladesh
The Securities and Exchange Commission (SEC) was established on 8th June, 1993 under the Securities and Exchange Commission Act, 1993. The Chairman and Members of the Commission are appointed by the government and have overall responsibility to formulate securities legislation and administer as well. The Commission is a statutory body and attached to the Ministry of Finance.
Mission of the SEC is to:
- Protect the interests of securities investors.
- Develop and maintain fair, transparent and efficient securities markets.
- Ensure proper issuance of securities and compliance with securities laws.
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