Artemis, the fund management giant, has signed a multi-year deal with Sybenetix to use its end-to-end market abuse surveillance, case management and conduct management system.

Sybenetix Compass uses behavioural algorithms to analyse exactly how investment professionals make decisions, using multiple sources of data to build unique behavioural profiles. These are used to identify abnormal behaviour which might be suspicious. The system looks for signs of misconduct and is designed specifically to help the 'buy-side' obey new financial regulations.

The system is designed to reduce costs and force the front and back offices of firms to send each other more data about their activities. Artemis already uses Sybenetix’s behavioural analytics to measure and improve the decision-making skills of investment managers. Its reason for buying this extra piece of software is that it is already used to (and approves of) Sybenetix as a vendor. It is also hinting that its people are already used to Sybenetix's behavioural software and will therefore find it easy to use in this new regulatory context. It is also hoping that its choice will give it a competitive advantage.

Sybenetix Compass claims that its software is 'scalable,' i.e. it can serve financial firms large and small, but nearly all vendors make that claim.