Archax Selects Scila’s Market Surveillance and AML Solution

Fazzaco learned that Archax, a FCA-regulated digital securities exchange, broker and custodian, has tapped Scila’s market surveillance and anti-money laundering (AML) solution for monitoring of its securities and cryptocurrencies markets.

Scila Surveillance and Scila AML provides Archax with a powerful and flexible real-time market surveillance and anti-money laundering tool which is deployed at customer sites in more than 20 countries, including exchanges, regulators and market participants.

The Scila solution includes a broad selection of alert rules and reports, a powerful search and replay functionality as well as trading analytics tools. The solution utilises advanced machine learning capabilities, based on both unsupervised and supervised learning.

“Digital assets and cryptocurrencies have become an integrated part of the financial system and capital markets. Whilst on a global level, cryptocurrencies and digital assets are largely unregulated, we think it is important that these asset classes become regulated in a similar way as traditional securities. We are excited to work with Archax on this project,”said Lars-Ivar Sellberg, Executive Chairman and Co-Founder at Scila.

“We see Scila as being perfectly aligned with Archax’s vision for the future of compliance in the digital asset industry. Through this partnership, Archax will not only remain compliant with various financial regulators with which it interacts but will also lead the ecosystem with new and progressive regulatory controls for both transaction reporting and market surveillance,”Graham Rodford, CEO and Co-Founder at Archax added.