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Business analytics software and services provider SAS has been selected by the Securities and Exchange Board of India as a solutions partner for the market regulator’s investigations department.
Comprehensive data integration using SAS data warehousing and business analytics would speed the investigation of suspicious transactions by SEBI and boost investor confidence, SAS said in a statement today.
“Increasing regulations and scrutiny demand sophisticated analysis and monitoring to spot market malpractice and trading compliance. To achieve the robust surveillance required to ensure unbiased trading platforms, SEBI choose SAS for its investigations department,” it said.
SEBI’s investigators and analytics group would use SAS to analyse the market behaviour.
The market regulator would be provided robust warehouse, high-end analytics and better predictive modelling and text mining to handle data growth and build a tighter fraud surveillance and investigation platform.
Commenting on the selection, the SEBI general manager, Mr Avneesh Pandey, said: “Pulling data into our warehouse and analysing it the next day is our single most important task. With SAS, we maintain uniformity, making data easier to analyse. The result is smarter investigations for quicker results.”
SEBI already collects 25 GB of data on the market every day and this is likely to reach around 80 GB per day within two years.
“With SAS, we can accelerate the process of utilising this data,” Mr Pandey said.
Besides addressing the growing volumes of data, SAS’ technology would give SEBI a single view of customers across exchanges.
“SEBI can now establish relationships between market participants and generate more accurate fraud alerts based on market participants’ behaviour. SEBI also wanted to tap unstructured data, including analyst recommendations, blogs, annual reports, etc., to understand the social media impact on investor behaviour,” the statement said.
SEBI intends to build analytical models using SAS’ ‘EnterpriseMiner’ system to identify known market manipulation patterns such as circular trading, pump and dump, insider trading and front-running.
“We are very pleased to partner with SEBI in building best practices to spot market malpractice and trading compliance, besides addressing the growing volume of data.
SAS... will be able to provide SEBI a single view of customers across exchanges,” the SAS Regional Director (South East Asia), Mr Sudipta K. Sen, said.
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