Trading Technologies upgrades multi-asset trade surveillance

Trading Technologies International upgraded TT Trade Surveillance with a Market Replay module and an enhanced enterprise case-management user interface. The Market Replay offers tick-by-tick, frame-by-frame playback across a 90-day lookback window while the new UI is built for faster, cloud-based case handling.

The company announced the enhancements and will demonstrate the new features at the XLoD Global – London 2026 conference beginning tomorrow. The upgrade covers monitoring and investigations across equities, futures and options, foreign exchange, fixed income and cryptocurrencies and is delivered as a hosted product on the TT platform.

Market Replay reconstructs historical market activity and visually replays order book events at the tick level. The tool lets compliance teams review the sequence of orders, trades and book changes within the 90-day window, allowing forensic review of past trading behavior.

The updated case management interface runs on a cloud architecture and combines Tier 1 governance controls with an interface designed for collaboration. It enables global compliance teams to access historical data, centralize communications and track the full investigative lifecycle in a single environment.

Jay Biondo, Head of Surveillance at TT, commented that Market Replay lets exchanges and regulators examine behavior with greater granularity and that the new case management UI is faster and more comprehensive than the company’s prior offering. He added the architecture creates a basis for future AI-driven features.

TT Trade Surveillance is used by more than 100 firms and is offered as a fully hosted solution on the TT platform. The system uses a mix of core, out-of-the-box detection models and user-configurable rules to limit false positives. A machine learning-powered Spoofing model trained on regulatory case data assigns alerts a risk score from 1 to 100 to classify how closely patterns match past regulatory actions.

The surveillance suite can ingest and normalize multi-asset trading data from native TT feeds and external systems via flat files, FIX drop copies or exchange drop copies. TT stated that the pairing of detailed replay capability, centralized case handling and automated risk scoring is intended to streamline enforcement workflows and support more detailed, data-driven investigations into suspicious activity.