Certeco and Scila Partner in Move on Trading Surveillance Market
Regulatory regime demands companies implement robust high quality surveillance systems
London and Stockholm, 19 July 2016: Certeco, one of the UK’s leading business technology change consultancies and Swedish fintech company Scila, have today announced a joint deployment partnership to target the trade surveillance space.
For financial institutions striving to comply with regulations such as the EU Regulation on Market Abuse – most of whose provisions apply from 3 July 2016 – and the MiFID II reform that comes into play in January 2018, trading surveillance is a vital part of the picture. The combined delivery and quality assurance expertise of Certeco and Scila’s software driven solutions, provide a compelling trading surveillance proposition for the London financial services market.
Certeco works with the UK’s top financial institutions on large-scale business change programmes, including regulatory change. Scila’s systems are targeted at trading venues, trading participants and regulatory bodies that apply modern technology in the mission to detect rogue behaviour and provide presentable evidence.
Adam Ripley, chairman and managing director at Certeco commented: “On the regulatory side, financial institutions are facing unprecedented levels of change. In particular, trading surveillance regulation has caught many on the hop. Surveillance regulation requires increased automation and transparency – and when these are required in near real-time across multiple trading asset classes, new data management and analysis capabilities are required. The pressure is on for financial institutions to implement these solutions and make sure they work. Failure to comply will result in business critical fines from the regulators. We’re excited to be working with Scila, which has such a great track record in this space.”
Lars-Ivar Sellberg, executive chairman at Scila said: “Scila has been active in the trade surveillance area since 2008, and with both Market Abuse Regulation (MAR) and MIFID II, we are seeing increased interest for our state of the art surveillance systems in the European market place. Scila and Certeco have successfully worked together in previous deployment projects and we are glad to announce this partnership that formalises our cooperation.”
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About Certeco:
Certeco is a UK based business technology change consultancy. Offering specialist consultancy services to large corporates in the banking, insurance and financial services industries. Certeco has twice been listed in the Sunday Times list of fastest growing private companies.
Certeco focuses on bringing certainty to business change programmes. Working with its clients through the lifecycle of change Certeco uses its specialist capabilities in project and programme management, business analysis, quality assurance and testing to deliver change successfully. The firm, which counts many of the world’s largest financial services organisations amongst its clients, has offices in London, Ipswich and Glasgow, has a workforce of 200 and annual sales of over £15m. www.certeco.co.uk.
About Scila
Scila is a fintech company based in Stockholm, Sweden, but we act globally. Scila provides trading surveillance products built on many years of experience from both market surveillance and systems design. Scila systems use modern technology to give the customer a seamless route from detection of market abuse to presentable evidence. Scila delivers the future in modern market surveillance technology by offering trading venues, regulators and market participants the most competitive solution available.
For additional information about Scila AB, please visit www.scila.se.
Media Contacts:
Lars Gräns
Scila
lars.grans@scila.se
+46 73 66 33 061
Lucy Clark
Certeco
Lucy.clark@certeco.co.uk
07984 184461
Jan Jackson
Certeco
Jan.jackson@certeco.co.uk
07530 980 517