Cubelogic has had a very busy summer, said Sales Director Ian Sloggett. “There was no lull in July and August this year,” he told me. Trade surveillance interest has been very high, but credit and market risk solutions are also in demand. He points to the very large fines being dished out for market abuse as helping drive interest in trade surveillance. “The regulators have real teeth and in commodity trading, very few of the trade surveillance solutions really understand market design and can identify market abuse in commodity trading,” he said. In fact, this has been an issue for some time. Solution providers in other asset classes have moved into commodities sensing an opportunity, yet they lack the functionality and understanding of commodity markets. “Cubelogic has solved this problem,” Ian told me. Indeed, the interest in trade surveillance solutions appears to have been driven by a couple of factors and that includes the very visible and very high fines that have been reported recently. For example, in June it was announced that Glencore would pay over $1.1 billion in fines for market manipulation. In October 2020, JP Morgan paid fines of close to $1 billion for market abuse in… continue reading
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