Research behind walls. Every call on record.
The capital markets pack brings research, trading, surveillance and recorded communications to Nexus. AI links orders to calls and chats, explains every alert and drafts with sources. Compliance decides what is suspicious. Every decision is sealed.
- Instrument
- Harlow Minerals
- Pattern
- Buying 2 days before a profit warning
- Score
- High · rule 4 and the model agree
- Analyst
- Ines Kowalczyk
The account bought 42,000 shares on 6 October 1, two days after a call with an employee on the insider list 2.
The model points. The analyst decides, and the reason is recorded.
Alerts with reasons. Decisions with names.
Surveillance teams drown in alerts that say little. The pack links each alert to the orders, calls and chats behind it, so an analyst can judge it in minutes.
Walls between research and sales
Information walls apply to files, chat, calls and the assistant. A blocked attempt is logged without showing what was asked for.
Calls and chats reviewed
Recordings are kept as the rules require, transcribed and read. Possible tip-offs and off-channel requests are flagged.
Best execution with reasons
Venue results are compared with a benchmark each quarter. The committee sees why a venue looks worse.
One record. A lens for each role.
Front office and compliance see the same records, through different lenses.
- Surveillance analyst
Alerts, the orders and communications behind them, and the case to build.
- Head of compliance
Cases waiting for a decision, and reports to the regulator ready to send.
- Research analyst
Research files, sources and the wall around them.
- Sales and trading
Clients, orders and their own calls, with walled research hidden.
- Best execution committee
Venue results, outliers and the reasons behind them.
From a trade to a sealed decision.
Four steps, the same for every alert. Follow one alert step by step →
Capture
Orders, trades, calls and chats arrive and are kept as the rules require.
Link
AI links unusual trading to the communications around it and explains why it fired.
Decide
An analyst reviews. Compliance decides whether to report it.
Seal
The decision, the evidence and any report sent are sealed.
The screens your teams use.
Sample data from a fictional firm, Kestrel Markets.
Every alert, with its reasons
Each alert says what fired and links to the orders, calls and chats behind it.
| Alert | Score | State |
|---|---|---|
| AL-5531 Trading before news | High | With an analyst |
| AL-5528 Layering pattern | Medium | Closed, no case |
| AL-5524 Wall crossed? | Low | Cleared |
A client bought 40,000 Harlow Minerals shares two days before a takeover was announced 1. On a recorded call the day before, the client's adviser said "something is coming" 2.
The AI finds and links. Compliance decides what is suspicious.
Calls and chats you can search
Recordings are transcribed and flagged. Analysts jump from an alert to the exact sentence.
| When | Who | Flag |
|---|---|---|
| 30 Sep 16:04 | R. Doran · client 1147 | Possible tip-off |
| 30 Sep 11:30 | J. Petit · client 0882 | Off-channel request |
| 29 Sep 09:12 | R. Doran · client 0451 | None |
"…I can't say more, but something is coming on Harlow, you might want to be in before Friday."
Calls and chats are kept for five years, as MiFID II requires, and reviewed against the surveillance rules.
Research behind a wall
Research notes are drafted with sources, behind a wall that applies to the assistant too.
- Inside
- Research team, 6 people
- Blocked
- Sales, trading
- Last attempt
- J. Petit, search, blocked
Freight volumes rose for the third quarter in a row 1, and the new tariff starts in January 2.
Venues compared each quarter
The pack compares execution with a benchmark and explains outliers for the committee.
| Venue | Orders | Price vs. benchmark | Note |
|---|---|---|---|
| Venue A | 61% | Better | — |
| Venue B | 27% | Same | — |
| Venue C | 12% | Worse | Wider spreads after 15:30 1 |
The best execution committee decides on routing changes. Its decision is sealed.
Every judgement, kept as it was made.
When compliance closes an alert or files a report, the pack seals the record with the evidence it relied on.
The alert, the orders and communications linked, the analyst's review and the final decision.
Internal audit or the regulator can check the seal with the open verifier.
Years later, the firm can show what it knew and why it decided as it did.
Try a seal check yourself on the home page.
Market rules, mapped to the evidence.
The pack links each obligation to the records that answer it, from recorded calls to filed reports.
- MiFID IIDirective 2014/65/EURecorded calls and chats (Art. 16(7)) and best execution (Art. 27)
- MiFIRRegulation (EU) No 600/2014Transaction reporting and transparency
- MARRegulation (EU) No 596/2014Suspicious orders reported (Art. 16) and insider lists (Art. 18)
- DORARegulation (EU) 2022/2554ICT risk, incident reports and third-party providers
- EU AI ActRegulation (EU) 2024/1689AI literacy for staff and transparency for AI-made content
- GDPRRegulation (EU) 2016/679Client and staff data in recordings, used for a stated purpose
Not legal advice.
Eight modules, one record of what happened.
Turn on the modules each desk needs. Every module works from the same sealed records.
01Communications capture and review
Keeps calls and chats, transcribes them and flags what needs a look.
- Goes in
- Calls, chats, mail
- Comes out
- Kept recordings and flagged items
- Signs off
- Surveillance analyst
02Market-abuse surveillance
Finds unusual orders and trades and links them to the communications around them.
- Goes in
- Orders, trades, market data
- Comes out
- Alerts with reasons
- Signs off
- Surveillance analyst
03Suspicious order reports
Drafts the report to the regulator from the case file.
- Goes in
- A case marked suspicious
- Comes out
- A report ready to file
- Signs off
- Head of compliance
04Research walls
Builds information walls and tests them before they go live.
- Goes in
- Wall decisions
- Comes out
- Walls on files, chat, calls and the assistant
- Signs off
- Compliance
05Insider lists
Keeps insider lists current as people are brought over the wall.
- Goes in
- Wall crossings, deal teams
- Comes out
- Insider lists ready to send
- Signs off
- Compliance
06Best execution
Compares execution with a benchmark by venue and explains outliers.
- Goes in
- Orders, fills, market data
- Comes out
- A quarterly review
- Signs off
- Best execution committee
07Transaction reporting checks
Checks reports before they are sent and finds what is missing or wrong.
- Goes in
- Transaction reports
- Comes out
- Errors and gaps, with fixes
- Signs off
- Operations lead
08Client onboarding
Reads onboarding documents and checks them against the firm's rules.
- Goes in
- Client documents
- Comes out
- A file ready for approval
- Signs off
- Onboarding officer
Close to the trading floor, under your control.
Run the pack in your own data centre or in our EU cloud. Where Nexus runs →
Your data centre
Next to your order and recording systems.
Our EU cloud
The firm in its own private space. Data stays in Europe.
Fully offline
For the most sensitive work. Updates arrive on a signed drive.
What people ask about the capital markets pack.
Does the AI decide what is suspicious?
No. It finds, links and explains. An analyst reviews, and compliance decides whether to report.
How long are calls and chats kept?
As long as your rules require. MiFID II asks for five years, and up to seven where a regulator asks.
Can research walls be tested before they go live?
Yes. The pack shows who would be blocked and from what before a wall goes live.
Can the assistant leak across a wall?
No. The assistant follows the same walls as people, and blocked attempts are logged.
Does it replace our surveillance system?
It can, or it can sit beside it and add the links to calls and chats your current system does not make.
Which models does it use?
The ones you choose, in the place you choose. The AI switchboard routes and counts every call.
Other packs
See it on one of your own alerts.
Bring an alert that took too long to close. We will show you how it runs on Nexus.