Keeping pace with dynamic markets: FINRA’s journey with AI-based surveillance techniques and tools

Susan Tibbs, Raghu Raman, Chi-Keung Chow and Robert A. Gomez
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Susan Tibbs: Senior Vice President, Financial Industry Regulatory Authority, USA
Raghu Raman: Vice President, Financial Industry Regulatory Authority, USA
Chi-Keung Chow: Principal Developer, Financial Industry Regulatory Authority, USA
Robert A. Gomez: Principal Advisor, Financial Industry Regulatory Authority, USA

Journal of Securities Operations & Custody, 2021, vol. 14, issue 1, 54-63

Abstract: Trading markets are dynamic. The composition of trading centres and market behaviour are constantly evolving. The number of market events is also constantly increasing, often in response to significant events like the COVID-19 pandemic. The dynamic nature of trading markets poses significant challenges for regulators that are responsible for exercising oversight of market activities. This paper discusses the Financial Industry Regulatory Authority’s research and development projects dedicated to experimenting with the development and improvement of artificial intelligence, machine learning and deep learning market surveillance techniques or tools. Such experimentation is critical for regulators to continue to keep pace with dynamic markets. The development and improvement of such techniques and tools holds the potential for continued effective oversight of market activities.

Keywords: Market surveillance; artificial intelligence; machine learning; deep learning (search for similar items in EconPapers)
JEL-codes: E5 G2 K22 (search for similar items in EconPapers)
Date: 2021
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