The Moscow Stock Exchange bought a 50.1% stake in ProCompliance LLC, which develops software to automate compliance services in the financial market, the trading platform said.

Moscow Exchange bought a software developer to combat illegal insider trading

The amount of the transaction is not disclosed. It is noted that within three years the exchange can increase its stake to 100%.

The Moscow Stock Exchange hopes to offer the market “unique compliance solutions” due to the new acquisition.

“With the help of existing and new services to identify risks and unfair practices, market participants will be able to optimize and strengthen their own internal control and compliance systems,” the site says.

ProCompliance uses artificial intelligence technologies to detect and counter insider trading, market manipulation and money laundering. The company’s solutions are used by leading Russian banks, brokerage and management companies.

Author:

anastasia mariana

Source: RB

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