Sand Technology Systems: Stock ExchangeProtects Investors with Nucleus
Exploration - Surveillance ApplicationCritical for Fraud Detection
April 29, 1999 08:39 AM
MONTREAL--(BUSINESS WIRE)--April 29, 1999--Sand Technology Systems
International Inc. SNDCF today announced that a major North American Stock
Exchange has validated Sand Technology's Nucleus Exploration software for use in
an enterprise fraud detection system. The Exchange's fraud system, through the
use of Market Surveillance, captures and analyzes daily, weekly and monthly
trading data to monitor the trading activity for compliance with trading rules and
securities by-laws, and investigates irregularities and complaints. This ensures a
fair and orderly market for all investors. To provide Surveillance, analysts must not
only monitor trends and behavioral patterns, but also be able to explore anomalies
in data through the use of iterative, ad hoc, forensic queries. Before the use of
Nucleus Exploration, Surveillance Officers were constrained by the volume of data
that required analysis, concerns about the validity of the data itself, and the data
modeling time required to allow queries.
With today's fast-moving markets, immediate response is required to allow
immediate corrections, upholding market integrity and avoiding unhappy Exchange
members and their customers. The Exchange, using Nucleus' patented data
storage techniques, was able to load previously unavailable data and perform
analysis in seconds or minutes instead of hours or days. Because of Nucleus'
unique ability to handle large amounts of data, ten times the trade detail volume
was made available for the Surveillance Officers, data anomalies were discovered
and corrected quickly, and queries against this required amount of data were
responding in a fraction of the time required for the previous, data-limited, approach.
According to Kevin Horigan, Executive Vice President of Sand Technology, "With
Nucleus, the Exchange will now be equipped, without restriction, to monitor past
areas of infringement and investigate new areas of violation. These new capabilities
include the ability to monitor the Exchange's quality in terms of spread, the
difference between bid and ask price and ensuring investor confidence by getting
them the best price for their order."
About Sand Technology
Sand Technology Systems International Inc. provides high performance, scaleable
software solutions for data mining, data marts, data warehouses and online
analytical processing (OLAP). Sand's Nucleus product suite brings patented
technology to the business user allowing for more timely and accurate decision
processing within the disconnected client, desktop, workgroup, departmental and
enterprise computing environments. Supporting industries and vertical markets like
Retail, Finance, Healthcare, Transportation, Telecommunication, Manufacturing,
Government and Insurance Nucleus is used for corporate initiatives such as
customer relationship management, risk analysis and management, product trend
and profitability analysis, fraud detection, emerging markets, competitive analysis
and quality control. Sand has commercial relationships with IBM, Compaq
Computer Corporation, Microsoft, Hitachi Data Systems, SAIC, GE, Brio
Technology, Information Builders Inc. and Wyle Systems. Sand Technology can be
reached on the World Wide Web at sandtechnology.com.
All Rights Reserved. Nucleus, Nucleus Server and N-Vector are registered
trademarks and Nucleus Exploration Mart, Nucleus Exploration Warehouse,
Nucleus Virtual Database (VDB), Nucleus Powered! and Nucleus E! are trademarks
of Sand Technology Systems International Inc. Other trademarks are the property
of their respective owners.
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