このレポートは、進化する貿易監視システム市場の状況を詳細に分析しています。コンプライアンスにかかるコストの上昇、市場のボラティリティと複雑性の増大、ベンダーによるAIやその他の次世代技術の採用状況など、コンプライアンスチームに影響を与える主な要因と課題とともに、金融市場とコンプライアンス分野の主要トレンドを評価しています。

 

Report　Description

Our Trade Surveillance Systems research report provides in-depth analysis of the state of this evolving market. The research evaluates key trends in the financial markets and compliance sectors, alongside the main drivers and challenges affecting compliance teams; such as the rising cost of compliance, increasing market volatility and complexity, and how vendors are adopting AI and other next-generation technologies. The report also positions 16 vendors across the Juniper Research Competitor Leaderboard for trade surveillance systems; assessed on their products and positioning against their capability and capacity. Collectively, the report provides a critical tool for understanding the trade surveillance systems market; enabling vendors in the trade surveillance systems space to shape their future strategy. The research also provides industry benchmark forecasts for the market, split by the following segments, as well as by our 8 key regions and 61 countries:

 

Large Financial Institutions (Global Banks and Major Brokerages)

Medium Financial Institutions (Regional Banks and Asset Management Firms)

Small Financial Institutions (Bespoke Trading Firms and Individual Brokers)

Other Businesses (Trading & Exchange Venues and Regulatory Bodies)

All report content is delivered in the English language.

 

Key Features

Market Dynamics: Insights into key trends and market challenges within the trade surveillance systems market; addressing challenges posed by emerging regulations, increased demand for cross-market and cross-platform monitoring, and the reduction of workload on compliance teams. It also evaluates the state of the financial crime landscape; highlighting key areas of market abuse that trade surveillance systems should focus on detecting. The report includes a segment analysis, which has market splits for large, medium, and small financial institutions, and other businesses that use trade surveillance systems; such as trading and exchange venues, and regulatory bodies.

Key Takeaways & Strategic Recommendations: In-depth analysis of key development opportunities and findings within the trade surveillance systems market, accompanied by strategic recommendations for stakeholders, such as leaders in trade surveillance technology.

Benchmark Industry Forecasts: A suite of comprehensive data and forecasts highlighting the total number of businesses using third-party trade surveillance systems, and total spend on third-party trade surveillance systems, split by business sector and business size; covering large, medium, and small financial institutions, and other businesses, such as trading venues and regulators.

Juniper Research Competitor Leaderboard: Key player capability and capacity assessment for 16 trade surveillance systems vendors, via the Juniper Research Competitor Leaderboard, featuring market size for major players in the trade surveillance systems sector.

Market Data & Forecasts

The market-leading research suite for the Trade Surveillance Systems market includes access to the full set of forecast data, with 37 tables and over 13,500 datapoints. Metrics in the research suite include:

 

Total Number of Businesses Using Third-party Trade Surveillance Systems

Total Spend on Third-party Trade Surveillance Systems

Metrics are provided for the following businesses:

 

Large Financial Institutions (Global Banks and Major Brokerages)

Medium Financial Institutions (Regional Banks and Asset Management Firms)

Small Financial Institutions (Bespoke Trading Firms and Individual Brokers)

Other Businesses (Trading and Exchange Venues, and Regulatory Bodies)

Juniper Research Interactive Forecast Excel contains the following functionality:

 

Statistics Analysis: Users benefit from the ability to search for specific metrics; displayed for all regions and countries across the data period. Graphs are easily modified and can be exported to the clipboard.

Country Data Tool: This tool lets users look at metrics for all regions and countries in the forecast period. Users can refine the metrics displayed via a search bar.

Country Comparison Tool: Users can select and compare countries. The ability to export graphs is included in this tool.

1. Key Takeaways & Strategic Recommendations

1.1 Key Takeaways . 6

1.2 Strategic Recommendations . 6

2. Trade Surveillance Systems Market Summary

2.1 Introduction . 9

2.1.1 The History of Trade Surveillance Systems . 9

2.1.2 The Current Landscape . 10

Figure 2.1: Global Spend on Third-party Trade Surveillance Systems ($m), 2024-

2029, Split by 8 Key Regions: ($4.9 billion by 2029) . 10

Figure 2.2: How Do Trade Surveillance Systems Work? . 11

Figure 2.3: Trade Surveillance Systems ? Solution Categories . 11

2.1.3 Regulatory Landscape . 12

Figure 2.4: Key Global Market Abuse Regulations/Regulatory Bodies . 12

i. The Markets in Financial Instruments Directive II (MiFID II) . 12

ii. The European Union Market Abuse Regulation (EU MAR) . 13

iii. The UK Market Abuse Regulation (UK MAR) . 13

iv. Dodd-Frank Wall Street Reform and Consumer Protection Act

(Dodd-Frank Act) . 13

v. Rule 15c3-5 . 13

vi. New Algorithm Trading Rules . 14

vii. The Financial Instruments and Exchange Act (FIEA) . 14

viii. The Monetary Authority of Singapore (MAS) . 14

2.2 Portrait of Financial Crime . 14

2.2.1 Types of Market Abuse . 14

Figure 2.5: Types of Market Abuse. 15

i. Price Manipulation . 16

ii. Circular Trading . 17

iii. Misuse of Insider Knowledge . 17

iv. Trade-based Money Laundering (TBML) . 17

v. Price Influencing . 18

vi. Improper Order Handling . 18

vii. Misleading Conduct . 18

2.3 Drivers . 18

2.3.1 Regulatory Pressure . 18

2.3.2 Technological Innovation . 19

2.3.3 Market Complexity . 20

2.3.4 Data Governance . 20

2.4 Challenges . 20

2.4.1 False Positives . 21

Figure 2.6: Acuiti Trade Surveillance Market Review Survey . 21

2.4.2 Pressure On Compliance Teams . 21

2.4.3 Cross-product Surveillance . 22

3. Segment Analysis

3.1 Segment Analysis . 24

Figure 3.1: Total Spend on Third-party Trade Surveillance Systems ($m), 2029,

Split by Segment - $4.9 Billion . 24

3.1.1 Large Financial Institutions . 24

Figure 3.2: Global Spend on Third-party Trade Surveillance Systems by Large FIs

($m), 2024-2029 . 24

3.1.2 Medium-sized Financial Institutions . 25

Figure 3.3: Global Spend on Third-party Trade Surveillance Systems by Mediumsized

FIs ($m), 2024-2029 . 25

3.1.3 Small-sized Financial Institutions . 25

Figure 3.4: Global Spend on Third-party Trade Surveillance Systems by Small FIs

($m), 2024-2029 . 26

3.1.4 Other Businesses . 26

Figure 3.5: Global Spend on Third-party Trade Surveillance Systems by Other

Businesses ($m), 2024-2029 . 26

4. Competitor Leaderboard

4.1 Why Read This Report . 29

Figure 4.1: Juniper Research Competitor Leaderboard Vendors: Trade

Surveillance Systems . 30

Figure 4.2: Juniper Research Competitor Leaderboard: Trade Surveillance

Systems Vendors . 31

Figure 4.3: Juniper Research Competitor Leaderboard: Trade Surveillance

Systems Vendors Ranking . 31

Table 4.4: Juniper Research Trade Surveillance Systems Market: Heatmap Results

(Part 1 of 2) . 32

Table 4.5: Juniper Research Trade Surveillance Systems Market: Heatmap Results

(Part 2 of 2) . 33

4.2 Vendor Profiles . 34

4.2.1 ACA Group . 34

i. Corporate . 34

ii. Geographical Spread . 34

iii. Key Clients & Strategic Partnerships . 34

iv. High-level View of Offerings . 34

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 35

4.2.2 Aquis Exchange . 35

i. Corporate . 35

Figure 4.6: Aquis’ Financial Snapshot ($m), (Converted from GBP @1.24) . 35

ii. Geographical Spread . 35

iii. Key Clients & Strategic Partnerships . 36

iv. High-level View of Offerings. 36

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 36

4.2.3 b-next . 36

i. Corporate . 36

ii. Geographical Spread . 36

iii. Key Clients & Strategic Partnerships . 37

iv. High-level View of Offerings. 37

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 37

4.2.4 eflow Global . 37

i. Corporate . 37

ii. Geographical Spread . 38

iii. Key Clients & Strategic Partnerships . 38

iv. High-level View of Offerings. 38

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 38

4.2.5 Eventus Systems . 39

i. Corporate . 39

ii. Geographical Spread . 39

iii. Key Clients & Strategic Partnerships . 39

iv. High-level View of Offerings. 39

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 39

4.2.6 FIS . 40

i. Corporate . 40

Figure 4.7: FIS Financial Snapshot ($m), 2021-2024 . 40

ii. Geographical Spread . 40

iii. Key Clients & Strategic Partnerships . 40

iv. High-level View of Offerings. 40

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 41

4.2.7 Nasdaq . 41

i. Corporate . 41

ii. Geographical Spread . 41

iii. Key Clients & Strategic Partnerships . 42

iv. High-level View of Offerings . 42

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 42

4.2.8 Nexi Group . 42

i. Corporate . 42

Figure 4.8: Nexi Group’s Financial Snapshot ($m) Converted from ? @ 1.05 . 42

ii. Geographical Spread . 42

iii. Key Clients & Strategic Partnerships . 43

iv. High-level View of Offerings . 43

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 43

4.2.9 NICE Actimize . 43

i. Corporate . 43

Table 4.9: NICE Actimize’s Financial Performance ($m), 2020-2023 . 44

ii. Geographical Spread . 44

iii. Key Clients & Strategic Partnerships . 44

iv. High-level View of Offerings . 44

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 45

4.2.10 Scila . 45

i. Corporate . 45

ii. Geographical Spread . 45

iii. Key Clients & Strategic Partnerships . 45

iv. High-level View of Offerings . 45

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 45

4.2.11 Software AG. 46

i. Corporate . 46

Figure 4.10: Software AG’s Financial Snapshot ($m), converted from ? @1.05 . 46

ii. Geographical Spread . 46

iii. Key Clients & Strategic Partnerships . 46

iv. High-level View of Offerings. 46

Figure 4.11: Software AG’s Market Surveillance . 47

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 47

4.2.12 SteelEye . 47

i. Corporate . 47

ii. Geographical Spread . 47

iii. Key Clients & Strategic Partnerships . 47

iv. High-level View of Offerings. 48

Figure 4.12: SteelEye’s Scope of Data Sources for Archiving and Monitoring . 48

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 48

4.2.13 SymphonyAI Sensa . 49

i. Corporate . 49

Table 4.13: SymphonyAI Sensa’s Investment Rounds, 2012-2015 . 49

ii. Geographical Spread . 49

iii. Key Clients & Strategic Partnerships . 49

iv. High-level View of Offerings. 49

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 50

4.2.14 Trading Technologies . 50

i. Corporate . 50

ii. Geographical Spread . 50

iii. Key Clients & Strategic Partnerships . 50

iv. High-level View of Offerings . 50

Figure 4.14: Trading Technologies R Trade Surveillance . 51

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 51

4.2.15 TradingHub . 51

i. Corporate . 51

ii. Geographical Spread . 51

iii. Key Clients & Strategic Partnerships . 51

iv. High-level View of Offerings . 52

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 52

4.2.16 Trapets . 52

i. Corporate . 52

ii. Geographical Spread . 53

iii. Key Clients & Strategic Partnerships . 53

iv. High-level View of Offerings . 53

v. Juniper Research’s View: Key Strengths & Strategic Development

Opportunities . 53

5. Data & Forecast

5.1 Introduction . 55

5.2 Methodology & Assumptions . 55

Figure 5.1: Trade Surveillance Systems Forecast Methodology ? Financial

Services (Large, Medium, and Small Financial Institutions) . 56

Figure 5.2: Trade Surveillance Systems Forecast Methodology ? Other Businesses

. 57

5.3 Trade Surveillance Systems Market . 58

5.3.1 Total Spend on Trade Surveillance Systems . 58

Figure & Table 5.3: Total Spend on Third-party Trade Surveillance Systems ($m),

Split by 8 Key Regions, 2024-2029 . 58

Table 5.4: Total Spend on Third-party Trade Surveillance Systems ($m), Split by

Segment, 2024-2029 . 58

5.3.2 Total Spend on Third-party Trade Surveillance Systems by Large

Financial Institutions . 59

Figure & Table 5.5: Total Spend on Third-party Trade Surveillance Systems by

Large Financial Institutions ($m), 2024-2029 . 59

5.3.3 Total Spend on Third-party Surveillance Systems by Medium-sized

Financial Institutions . 60

Figure & Table 5.6: Total Spend on Third-party Trade Surveillance Systems by

Medium-sized Financial Institutions ($m), 2024-2029 . 60

5.3.4 Total Spend on Third-party Trade Surveillance Systems by Small-sized

Financial Institutions . 61

Figure & Table 5.7: Total Spend on Third-party Trade Surveillance Systems by

Small-sized Businesses ($m), Split by 8 Key Regions, 2024-2029 . 61

5.3.5 Total Spend on Third-party Trade Surveillance Systems by Other

Businesses . 62

Figure & Table 5.8: Total Spend on Third-party Trade Surveillance Systems by

Other Businesses ($m), Split by 8 Key Regions, 2024-2029 . 62