Scila is taking a step towards integrating artificial intelligence into our market surveillance product Scila Surveillance™. The main focus will be on Generative AI and Language Learning Models (LLMs) which will increase the user-friendliness, efficiency and effectiveness of the user interactions with our system.
A key element of this new integration is the built-in chatbot in our web client. The chatbot will act as a personal guide, always available to assist users. This feature makes Scila more accessible and user-friendly, especially when navigating and analyzing in detail the tools and generated results of our market surveillance solution. Additionally, we are also exploring other AI features that can improve our products. The interaction between the chatbot and users will happen in real time where users can ask about various features like setting up alert rules, understanding workflows, or asking for specific information. This will save users from the often time-consuming process of going through documentation, FAQs, or contacting customer support.
While developing these new features, we are highly aware of the potential privacy concerns that might arise, and we can assure the users that Scila’s integration of AI prioritizes associated data privacy and security risks. Protecting user information is a key factor while developing these advancements.
In conclusion, our journey into integrating Generative AI and LLMs into our products is more than just a technological advancement, it’s also a commitment to our customers. Our efforts aim at improving user experience, ensuring real-time assistance while maintaining data privacy. We invite our customers to follow our AI integration ambitions to ensure that the new AI tools will satisfy your needs. A good understanding of our customers preferences, expectations, needs, and behavior patterns, is important when developing and integrating the new AI tools into our market surveillance solution.
Philip Song – Software Developer part of Scila’s AI and machine learning R&D team
London breakfast event
Join us for an breakfast event in London on February 13th, 2024! Our event will feature exciting topics. Also, you will have the opportunity to chat with our Gen-AI chatbot, which is built into Scila Surveillance. The event will take place at the Eight Club Moorgate, so mark your calendars now and don’t miss out on this unique opportunity!
Scila Appoints Mikko Andersson as CEO
Scila is pleased to announce the appointment of Scila’s CEO, Mikko Andersson. Mikko has extensive experience creating and leading teams in several areas. We look forward to Scila’s growth under his stewardship!
New sales signed
A pan Asian brokerage company has signed for Scila Risk, because their need for multi asset instrument monitoring with better alerts and workflow were not being met by their existing vendors. As with other clients and prospects in the region, this client was impressed with the fact that both top of the line risk management and proven surveillance technologies from Scila run on the same well managed and accurate data set, reducing implementation costs dramatically. They are now considering adding Scila Surveillance. More information to follow!
A prominent UK energy production company selected Scila Surveillance above other offerings, because of our strong track record for helping exchanges and regulators as well as many other energy market participants. They recognized the benefits of leveraging our experience in this area to help create a surveillance framework that fits their needs today and can also adapt to future changes, in both regulation and their own business requirements.
Another award
Scila was recognised on October 20, by being included in the Chartis RiskTech100 for the year 2024. The Chartis RiskTech100 is an annual report that evaluates and ranks technology providers in the risk and compliance industry.
Being featured in this prestigious list underlines Scila’s position as a frontrunner in delivering innovative and comprehensive solutions for institutions worldwide. It is a testament to Scila’s relentless commitment to providing cutting-edge solutions, and now also in the risk management domain.
We are grateful to our colleagues at Scila whose extensive collective experience in the space of trading, exchange engines and transaction monitoring has informed the product range since the beginning.
Scila not only has clients in the financial markets but in many other fields (from regulators and exchanges to brokerage and trading firms, in all asset classes – financial, commodities both exchange traded and physical) around the globe. The company continues to grow, expanding into the Americas and Asia, keeping pace with the growth of clients, markets and regulatory requirements.
“We are delighted to be acknowledged by Chartis in the RiskTech100 for 2024. This achievement reflects our unwavering dedication to delivering exceptional solutions to our clients. We thank our clients and partners for their continued support, and our passionate team for their hard work and innovation,” said Lars-Ivar Sellberg, Executive Chairman of Scila.
Past events
XLoD London November 15 – 16
Scila attended XLoD Global in London – a conference with two days of keynotes from the FCA, FINRA, SEC, ASIC, an interview with Former Prime Minister Liz Truss, and panel discussions covering 1st Line Risk & Control, and Market Abuse Surveillance.
With over 700 delegates it proved to be an interesting two days covering the topics top of mind for the firms attending and discussing the evolution of opinions regarding generative AI and its potential for change within our industry.
Also, the combination of transaction monitoring (AML) with trade surveillance was a topic of discussion, bringing compliance and anti-crime together and combining forces. As Scila’s products are built on the same technology platform and share integration and data models this is something that is possible and being used by Scila’s customers already.
FIA Expo Chicago October 2 – 3
Scila was represented in Chicago at the start of October. – Alex Lamb, Head of Americas and Daniel Freberg, product expert from Stockholm, were at the event meeting clients and prospects. The event was very well attended – more than 1,000 market professionals over the course of two days, many stopping at our booth for ‘Swedish Fish’! This was followed by some interesting meetings in Chicago with proprietary firms, brokers and exchanges.
FIX Sydney October 19
Scila attended this event in Sydney, Australia for the first time. Philip Joslin and Edric Lian enjoyed many very good and informative meetings with clients gaining insights into the Australian Electricity market, in which many proprietary trading groups participate.
Scila also learned more about the local Buy Side market, and met with IRESS (the largest data vendor and front end solutions provider in the country) who are looking into the use cases for historical data. Additionally meeting with CapitaHQ was instructive, providing further information on the Buy Side market, its requirements and needs for trade surveillance and risk management.
Australia has a huge fund sector due to superannuation – an Australian pension program. Many of the funds are merging and outsourcing their trading which has made many seek solutions to help satisfy regulatory requirements.
Wishing our clients a Happy Holiday, and a Happy New Year!