SteelEye, the pioneering integrated surveillance provider trusted by financial firms worldwide, has rolled out its revolutionary Compliance CoPilot tool across trade surveillance. 

SteelEye’s Compliance CoPilot leverages large language models (LLMs) to augment the role of a compliance officer by providing intelligent analysis, automation and actionable insights. It enables analysts to prioritize high-risk alerts, investigate alerts more efficiently, and streamline the overall alert review workflow—reducing review time by up to 90%.

The AI-powered solution, already in use by clients for communications surveillance since November 2023, offers alert scoring, prioritization, and clear explanations of why alerts are triggered. It also provides recommendations for categorizing and resolving alerts, complete with rationale.

This enhanced decision-making capability arrives at a pivotal time for the industry, with the growing interconnectedness and complexity of financial markets driving wrongdoers to adopt increasingly sophisticated market manipulation tactics. Surveillance teams must ensure they can better detect and manage risk in this context, a doubly pressing challenge given most firms are grappling with surging numbers of alert queries and tightening budget constraints.

According to SteelEye’s 2024 Annual Compliance Health Check Report, expenditure on compliance has fallen considerably this year compared to 2023 despite evolving market abuse such as cross-product manipulation becoming more prevalent. By allowing firms to prioritise the most urgent alerts and manage their workload more intelligently, the AI-enabled assistant enhances the efficiency and accuracy of surveillance functions considerably. In addition, it affords firms more time to consider where they need to strengthen their market surveillance capabilities on a broader level.

The Compliance CoPilot can be easily integrated into SteelEye users’ existing workflow.

Matt Storey, Chief Product Officer at SteelEye, said: “There can be no downplaying the amount of strain compliance staff are under across the industry, with most teams overwhelmed by volumes of suspicious trading alerts to address each day. The ability to prioritise the most important ones could prove essential to bolstering firms’ risk management practices in this context, ultimately helping staff to review and action more alerts. The Compliance CoPilot will ensure compliance teams operate more effectively and proactively, and should become the go-to side kick for surveillance officers.”