Otkritie Capital has selected Nice Actimize to provide cloud-based market abuse surveillance and anti-money laundering solutions in support of its cross-asset Direct Market Access platform and broker dealer activities. Services will be hosted by NiceActimize from its  UK data centre.

Otkritie Capital will use Nice Actimize's cloud-based technology for its trading practices compliance programme to detect and report potential market abuse and money laundering activities across its European business. A combined global team based in London, Moscow and Frankfurt will coordinate delivery of the services

Nice Actimize provides cloud-based solutions in addition to on-premise support as an alternative delivery mechanism, with hosting in a secure data centre. The cloud-based delivery approach minimises deployment time, reduces total cost of ownership and speeds return on investment. 

"Otkritie Capital conducted a rigorous search with stringent criteria before choosing Nice Actimize for the automation of our regulatory compliance initiatives in trading and fixed income," said Nils Jahn, managing director of global electronic trading at Otkritie Capital. 

Amir Orad, president and chief executive of Nice Actimize, said: "As the needs of the securities market evolve, we remain committed to providing cloud-based solutions that enable rapid deployment, offer minimal business disruption, and which ease the burden of regulatory compliance."