SEBI will soon implement a data warehousing (DW) platform that will host pattern recognition algorithms to monitor trade and order data.
The modules will look in to matters such as insider trading and front running, said a news release from the regulator.
SEBI announced on Monday that it had signed a contract with Tata Consultancy Services for a data warehousing and Business Intelligence System (DWBIS) which allows the market regulator to “exploit the power of modern technology in terms of computation and speed of data analysis”.
This will enhance the capability of its investigations and surveillance functions, said a SEBI news release. With similar tools available with exchanges and depositories, the monitor can speed up investigations and complete its “quasi judicial orders” which arise from cases of violations. Databases across SEBI's departments will be linked to DW platform so that the regulator can use the data “efficiently”.
The project was rolled out on Monday with the SEBI Chairman, Mr C.B. Bhave, receiving the first set of the reports from the system, according to the release.