Surveillance software has quite an extensive amount of uses in the technology field. There is, of course, the most obvious use that comes when you pair a software package up with video surveillance when attempting to catch thieves in the act. Another way in which surveillance software can come in handy is by analyzing patterns and detecting irregularities where a human being might not be able to spot them. The London Metal Exchange has recently signed a deal with Millenium IT that will outfit with the exchange with software designed to analyze trading patterns and alert the exchange if there appears to be something afoot.
The stock market has been rather weak this year – especially overseas – and the London Stock Exchange has been trying to boost its revenue with a series of technology deals. The contract with Millenium IT is just the latest partnership when it comes to new technology on the market. Diversification has long been a goal of the LSE and with the LME looking to be purchased fairly soon by the Hong Kong Exchange, the market says that it will better be able to monitor trades in real time.
"This will enhance our ability to detect and query real or apparent market abnormalities," Diarmuid O'Hegarty, LME Deputy Chief Executive, said in a statement. "The flexibility of the surveillance platform will allow the LME to develop new alerts, to adapt to market changes and to manage volume growth."
In a world market that is struggling to recover from the global financial collapse of 2008, most stock exchanges are finding it important to use whatever methods they can to make sure everything is on the up and up. These kinds of surveillance programs ensure that new investors feel safer placing their money and that older investors know that they will continue to be secure.
Edited by Allison Boccamazzo