All posts by Jay Biondo, Sales Specialist - Surveillance

Sales Specialist - Surveillance

Despite the feeling that we’re all suffering from Zoom fatigue after more than a year of virtual meetings, happy hours and events, a record number of people attended our recent webinar focused on TT Score. This trade surveillance and compliance solution is fully integrated with the TT platform, but can also ingest data in FIX format from exchanges or other front-end trading systems.

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As the Sales Specialist for TT’s surveillance software TT® Score, I am frequently asked by customers and prospects what the “hot topics” are in the compliance world and what the regulators will be focused on next. While I am always happy to provide my opinions on such matters, we at TT thought that it would also be valuable to provide a periodic blog series that includes insights and perspectives about legal and compliance topics from several different industry experts.

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When a large tier-one bank with operations around the world realized that their legacy trade surveillance system not only failed to detect patterns of potential spoofing activity, but also generated too many false positive alerts, their compliance staff knew they needed to make a change. 

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2019 was a banner year for regulators in the futures industry. The CFTC obtained monetary relief of more than $1.3 billion from 69 enforcement actions, a 39% increase from the previous year and the fourth-highest total in CFTC history, agency officials said in its annual enforcement report. This included the largest total monetary relief ($67.4 million dollars) ever ordered in a spoofing case (see CFTC Orders Proprietary Trading Firm to Pay Record $67.4 Million for Engaging in a Manipulative and Deceptive Scheme and Spoofing).

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