Comments
Tata Consultancy Services, HP, Wipro, Tech Mahindra and five other companies have evinced interest in assisting the Securities Exchange Board of India (SEBI) in upgradation of its fraud detection systems. The markets watchdog is planning to expand the capacity of its Data Warehousing and Business Intelligence System (DWBIS) installed at data centres in Mumbai and Chennai.
DWIBS is used for speedy analysis of trade data to identify possible violations such as insider trading, share price manipulation, front running and pump-and-dump scams.
Industry insiders say the winning bidder will have a revenue potential of around ₹50 crore. SAS, Virtusa, L&T Infotech, Teradata and KPMG are the other interested parties, going by queries related to the project as posted on the SEBI website.
“I think SEBI wants to up its technology capabilities in a way that it can build analytics and artificial intelligence on a real time basis for every stock market transaction,” a senior official from one of the bidding firms told BusinessLine .
SEBI’s sophisticated surveillance system is said to generate at least 100 alerts of suspicious trading activities every day.
SEBI will admit bids for this project till March 27. The technical bids will be opened on March 27 while the financial bids will be unveiled on April 30.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.