ASIC has won the Australian Public Service (APS) Data Analytics and Visualisation Award 2023 for its development of a sophisticated insider trading surveillance and detection capability.

The capability was developed by a team of ASIC staff that are specialists in data, analytics, and surveillance.

The new system automatically hunts for and detects suspected market misconduct, profitable and suspicious trading patterns, and identifies connections between traders and potential sources of inside information.

It combines and uses advanced algorithms to analyse data from various sources including ASIC’s data, ASX, ATO and commercial vendors. This new system safely and responsibly uses new technology to allow ASIC to identify harms more quickly and more accurately, and combat misconduct damaging to market integrity such as insider trading.

This work directly supports ASIC’s strategic priorities and enforcement priorities to bolster digital and data capabilities and protect fair and efficient financial markets.

The detection system, together with ASIC’s other regulatory and enforcement work in this space, is critical to maintaining market integrity and the confidence of financial consumers and investors in the financial system.

Background

The APS Data Analytics and Visualisation Award recognises outstanding and innovative analytics that deliver accessible insights and data visualisations to inform decisions. Recipients were announced at a ceremony in Canberra on 17 May 2023.

ASIC is Australia’s corporate, markets and financial services regulator.