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Trader Behaviour Analytics

Data Analytics Driven

Second Line of Defence

Delivering Best Practices for achieving market integrity, transparency, and fairness.

A European Investment Bank was looking to develop a comprehensive monitoring solution to assess traders’ use of Cancel, Correct and Amend (CCA).

Unlocking Insights: Trader Behaviour Analytics in Financial Services

Trader Behaviour Analytics is a specialised field within the financial industry that focuses on analysing and understanding the actions and decisions made by traders in the context of their trading activities. It involves the use of data analytics and advanced technology to assess and monitor trader behaviour to ensure compliance with regulatory requirements, ethical standards, and internal trading policies.

Industry: Financial Services, Investment Banking


Sourcing the Input Data

The highly fragmented structure of our client’s trading system architecture required the ability to source trade information from a number of disparate systems.

High volume caused by the requirement to assess each version of all trades booked across trading business.

We used the enhanced data analytics technologies to load, transform and normalise trades from each of the trading systems.

Data Solution

Designing the Key Risk Indicator (KRI) tests

We developed a series of complex analytics algorithms in order to identify potential suspicious behaviour by individual / groups of traders and to present findings to the Anti-Financial Crime (“AFC”) unit.

These algorithms used the following statistical methods to assess the complete client trade population:

  • peer group clustering calculation and identification of 95 and 99 percentiles
  • random forest/decision tree analysis
  • k-means clustering

The algorithms generated went through a rigorous back-testing regime which applied the each statistical method to a set of real transaction flow data and a set of control data to test the efficacy of the models developed.

Dashboard Development

In addition to the KRI test algorithms constructed, we leveraged the Qlikview data visualisation solution to develop dynamic dashboards to provide CCA management with granular and consistent monitoring data. The dashboarding solution provided AFC management with a portal to track CCA KRI statuses.

A robust and repeatable CCA solution delivered fast.


The process allowed active monitoring of trader behaviour and provided the AFC team with granular information to allow them to investigate specific KRI breaches.


The CCA dashboarding solution we developed allowed our client to comply with both regulatory and internal audit requirements.

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