The leading provider of business analytics software and services, and one of the largest vendors in the business intelligence market, SAS (News - Alert) announced that the Securities and Exchange Board of India (SEBI) has selected its business analytics software and services, for its investigations department. The announcement was made at The Premier Business Leadership Series event in Singapore. The event is being attended by more than 600 senior-level attendees from the public and private sectors to share ideas on critical business issues.

With regulations becoming increasingly stringent, the departments responsible for preventing trading malpractice need more sophisticated analysis and monitoring to ensure trading compliance. SEBI was in the lookout for robust warehouse, high-end analytics, and better predictive modeling and text mining in order to be able to handle data growth and build a tighter fraud surveillance and investigation platform. Committed to ensuring market safety, SEBI’s investigators and analytics group is going to use SAS to analyze market behavior. The SAS solution is expected to help SEBI to achieve the robust surveillance over unbiased trading platforms. The SAS data warehousing and business analytics will be leveraged to achieve comprehensive data integration. This in turn will help speed up the investigation of suspicious transactions, and all these will ultimately boost up investor confidence.

“With SAS, we maintain uniformity, making data easier to analyze. The result: smarter investigations for quicker results,” General Manager for SEBI explained in a statement.

Besides addressing growing volumes of data, SAS gives SEBI a single view of customers across exchanges, the company explained in a press release. Using SAS, SEBI will be better able to establish relationships between market participants and generate more accurate fraud alerts based on market participants’ behavior. It will also allow SEBI to tap unstructured data, including analyst recommendations, blogs, annual reports, etc. to understand social media impact on investor behavior.

SAS helps to identify unknown patterns for investigators to analyze and detect any new market manipulation patterns, increasing efficiency and effectiveness in market surveillance and investigation. SEBI revealed that it also intends to build analytical models using SAS Enterprise Miner. The analytical model will help it identify known market manipulation patterns such as circular trading, pump and dump, insider trading and front running.

SAS Enterprise Data Integration Server will be used by SEBI to load their warehouse with disparate data from multiple exchanges countrywide. The SAS Data Quality component cleanses, standardizes and removes duplicate data to build a single-entity view of market participants.

Recently SAS announced that the Malaysia Building Society Berhad (MBSB) has chosen with SAS Rapid Predictive Modeler to enhance its data mining solution, to gain more precise insights about customers to create better products and services.

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