Redkite, a specialist in financial markets surveillance solutions, today announced that it has selected Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting and business process outsourcing services, as a global technology partner to enhance and deliver its CEP-powered market surveillance solutions.
The agreement will enable Redkite to continue to provide optimal service and support to its rapidly growing financial services client base.
Tony Virdi, Vice president, Head of Banking & Financial Services, UK & Ireland, Cognizant, comments: "We are pleased to be selected by Redkite as its trusted partner in delivering the right tools and solutions in trade monitoring, which is becoming increasingly important for buy- and sell-side firms alike. We are committed to leveraging our deep industry insight, domain knowledge and relationship management capabilities, coupled with a seamlessly integrated global delivery network, to help Redkite drive effectiveness and innovation and further strengthen its leadership position in the area of financial market surveillance solutions."
Justin Amos, managing director, Redkite, comments: "It was critical for Redkite to find a solid, reliable and technically astute IT services partner with the global reach to support our own and our clients' needs in this rapidly developing market. The commitment both teams have already shown bodes extremely well for a long and mutually beneficial relationship."
Redkite's flagship trade monitoring solution, Redeye, enables financial institutions to detect and prevent erroneous trading patterns in real-time, via highly customisable analyses and alerts. Clients can monitor instances such as insider trading, based on real-time news sentiment analysis, market abuse, cross-market manipulation and trade activity that focuses on influencing market closing prices.