By MICHAEL CIRCLE
The Data Group News Service
Nasdaq, the multinational stock exchange and technologies company, is preparing to utilize generative AI to strengthen market manipulation investigations for its clients. With the new product, clients will be better able to monitor and regulate potential market abuse.
Leveraging the power of Amazon Bedrock, and Amazon Web Services (AWS) product, initial results were strong, boasting a 33 percent decrease in investigation time as well as better overall outcomes.
“Maintaining trust in capital markets is critical to preserving long-term growth and prosperity,” said Ed Probst, Senior Vice President and Head of Regulatory Technology at Nasdaq. “Market abuse is a substantial global challenge and one that demands increasingly sophisticated solutions to address it. As a major regulatory technology provider to the world’s financial system, with a deep culture of innovation, Nasdaq is uniquely placed to leverage the power of technology to further enhance the tools and capabilities necessary to uphold the integrity of marketplaces globally.”
International markets require coverage for defects and manipulation techniques such as insider trading and fraud. The AI development Nasdaq is using will enhance the investigation progress that is required when red flags are triggered, allowing for quicker turn around before deciding to continue the review.
Tony Sio, Head of Regulatory Strategy and Innovation at Nasdaq, said: “By drawing on the latest innovation in cloud technology and artificial intelligence, we can better respond to new threats and offer the global financial system advanced tools to more effectively tackle market abuse. This is a continuous cycle of investment and improvement in our capability, leveraging our unique position as both a world class market operator and best in class surveillance technology provider around the world.”
For more on Nasdaq’s new upgrades, please visit Nasdaq to Enhance Global Market Surveillance Offering with Generative AI (aboutamazon.com).
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