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Circle Introduces Market Supervision to Fight ‘Pump and Dump’ Schemes and Insider Trading

Circle, a blockchain-based finance company is planning to use digital financial services company Nice Actimize’s market monitoring tools to fight manipulation, as per a press release on Feb. 27.

Nice Actimize, which forms a branch of Israeli enterprise software giant Nice Ltd., offers professional client tools in the areas of risk, financial crime, and compliance.

It is to be noted that Circle will primarily use Actimize’s Cloud Markets Surveillance (CMS) to proactively put a stop to and become aware of malicious trading activity on its own platform, including insider layering, trading, and even so-called pump and dump schemes.

Robert Bench, Circle’s head regulatory counsel and chief compliance officer, commented in the press release that adapting ground-breaking technology solutions, such as the financial markets compliance solutions from Nice Actimize, to meeting the potential needs of regulators and protecting their assets brings the commitment full circle.

As per the previous media reports, institutional platforms like Circle are keenly seeking to subdue concerns about exploitation on cryptocurrency and digital asset markets.

Not just Nice, but also Nasdaq has seen success deploying its market surveillance technology in associated areas. In January, Nasdaq revealed that seven cryptocurrency exchanges currently use its market monitoring tech.

Furthermore, trade security startup Solidus Labs declared, last month, that it had raised $3 million to fight market manipulation.

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