SteelEye, the compliance technology and data analytics firm, has today announced the launch of its new Order Book Replay service – a cutting-edge market replay solution.

Designed to facilitate more precise and rigorous market abuse surveillance, SteelEye’s market replay tool enables organisations to playback a trading session and more thoroughly analyse market movements.

This allows compliance teams to play, pause, rewind, fast forward, slow down and speed up order book activity to gain a full understanding of what has taken place – visually showcasing the overall balance of the book against market price levels and spreads. The solution also highlights where trading activity might be indicative of market abuse behaviours like spoofing and layering.

Commenting on the announcement, Matt Storey, CPO at SteelEye, said: “Today, most firms have a limited retrospective view of their trading operations which restricts their ability to identify opportunities, risks, and compliance threats. As regulators crack down on market abuse, SteelEye’s market replay provides a comprehensive yet accessible visual representation of a firms’ order and trade activity against the full order book so they can more effectively monitor for irregular behaviours.”

The solution is fully incorporated and has gone live for a range of clients.

Matt Smith, SteelEye CEO, said: “There have been many recent, high-profile examples of firms being reprimanded and fined by regulators for market abuse. These events act as stark reminders of the need to identify, investigate, mitigate, and report on potential instances of market manipulation. With SteelEye’s comprehensive Order Book Replay firms can more effectively oversee their trading operations to better detect market manipulation, not to mention get data insight that can power enhanced decision making and trading performance.”