b-next, a specialist provider of capital markets compliance solutions, today announced the enhancement of its proprietary CMC:Global Control Room web-based tool to provide financial institutions with a comprehensive view of all activities across its global operations. The CMC:Global Control Room offers the global compliance officer greater analytics and centralised visualisation of activity across the whole organisation. CMC:Global Control Room enables complex, global financial institutions to manage sensitive information across the company and to identify where it may be being misused. For example, a compliance officer in the UK should be able to know if someone in the UK investment banking team has passed on sensitive information to a trader in New York, who is then using this information to his trading advantage. By centralising trading data from across the firm as well as capturing other key events such as investment banking activity, the CMC:Global Control Room enables compliance officers to connect the dots, highlighting all potential conflicts whether it is insider trading, market abuse or other types of conflicts.
The Global Control Room formalises the compliance process, allowing compliance teams regional flexibility to incorporate regulations specific to each country such as a local watch list. The global compliance officer will collaborate with the regional teams within the system to collate all global data into a central hub, applying a set of global restrictions and enabling a top-to-bottom view to identify conflicts across the whole institution, helping to mitigate potential market abuse or insider dealing. “The enhanced offering has been developed due to the general demand of our customers and the intense scrutiny the financial industry is under. Truly holistic monitoring can only be achieved using a centralised solution that provides a complete view of operations from across the whole banking group. The CMC:Global Control Room provides this,also enabling users to define a clear workflow to determine how material non-public information (MNPI) should be managed within the firm and ensuring that all potential conflicts are flagged,” comments Wolfgang Fabisch, CEO, b-next.
The CMC:Global Control Room integrates with the b-next CMC:eSuite user interface to unify compliance services and solutions and is available to both new and existing customers of the CMC software.