Nasdaq has acquired London-based financial markets surveillance company Sybenetix, for an undisclosed amount.
Sybenetics uses behavioural analytics and cognitive computing to create market surveillance and compliance monitoring software for banks, asset managers, hedge funds, exchanges and regulators.
The platform also allows for users to conduct risk management and performance improvement, to help improve regulatory, reputational and operational effectiveness whilst lowering costs.
Through the acquisition Sybenetix plans to grow its technology and expand its product development for the buy-side industry.
Nasdaq president and CEO Adena Friedman said, “We believe behavioural science, cognitive computing and machine intelligence are essential to a successful, holistic surveillance offering and critical to efficient and effective organizational compliance with an increasingly intricate global regulatory environment.
“As such, we are thrilled to welcome the talented technology team and clients from Sybenetix. Their bespoke compliance, surveillance and performance management technology can meet the needs of the world’s largest asset managers and will be complementary to Nasdaq’s Risk and Surveillance suite.”
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