Fast Big Data – Enabling Financial Oversight

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For the last decade, there has been increased concern about the integrity of capital markets. The crash of 2008-2009 and follow legal actions and press have created an image of a world of high-frequency traders who can leverage their computer power to manipulate markets. Technical talks on performance which is critical in finance, further characterize finance as hooked on speed/low latency. One gets the impression that fast data leads to a fast buck at public expenses. However, fast big data also enables the good guys!

We discuss how fast big data is being used in the financial industry to ensure good governance and protect consumers and businesses who depend on the integrity of financial markets. We discuss the better decisions enabled by algorithms; improved testing practices for algorithms; oversight of markets through surveillance; protection against cyber threats; and the use of data forensics to tell the true story of transactions past.

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