Credit Agricole is rolling out technology from Actimize across its retail custody and securities services subsidiary, Titres to help it comply with the EU's Market Abuse Directive and tackle insider trading.
Actimize says its brokerage compliance market abuse system will enable CA Titres to ensure the Directive is complied with across its entire retail banking operation in France, which consists of 39 groups, including private banking and fund management networks.
The technology monitors and detects suspicious transactions using analytical models and automatically distributes targeted alerts directly to the relevant retail branch and users.
The vendor says that by using several analytical methods to assign a priority score to alerts, its system improves the efficiency of trading managers and compliance staff.
Last year Credit Agricole's asset management business also signed for Actimize market abuse software as well as the vendor's anti-money laundering system.
The move to step up controls comes a year after a New York-based rogue trader at the bank's Calyon unit made unauthorised bets on credit markets which cost it EUR250 million.