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Title: Financial market monitoring and surveillance systems framework : a service systems and business intelligence approach
Author: Diaz Solis, David Alejandro
ISNI:       0000 0004 2719 4247
Awarding Body: University of Manchester
Current Institution: University of Manchester
Date of Award: 2012
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The thesis introduces a framework for analysing market monitoring and surveillance systems in order to provide a common foundation for researchers and practitioners to specify, design, implement, compare and evaluate such systems. The proposed framework serves as a reference map for researchers and practitioners to position their work in the context of market monitoring and surveillance, resulting in a useful instrument for the analysis, testing and management of such systems. More specifically, the thesis examines the new requirements for the operation of financial markets, the role of technologies, the recent consultations on the structure and governance of EU and US markets, as well as, future usage scenarios and emerging technologies. It examines the context in which market monitoring and market surveillance systems are currently been used. It reports on their processes, performance, and on the organisational and regulatory environments in which they exist. Furthermore, it develops a set of taxonomies which cover the majority of the concepts of market manipulation, market monitoring, market surveillance, entities, technologies and actors that are relevant for the work in this thesis. Building on the gaps and limitations of the current systems, it proposes a new framework following the Design Science methodology. The usefulness of the framework is evaluated through four critical case studies, which not only help to understand with practical exercises the way how markets monitoring and surveillance systems work, but also to investigate their weaknesses, potential evolution and ways to improve them. For each case study, the thesis develops a fully working prototype tested using a sample prosecution case and evaluated in terms of the appropriateness and suitability of the proposed framework. Finally, implications relating to policies, procedures and future market structures are discussed followed by suggestions for future research.
Supervisor: Theodoulidis, Babis; Sampaio, Pedro Sponsor: Universidad de Chile ; Facultad de Economia y Negocios ; Beca Presidente de la Republica ; Gobierno de Chile
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID:  DOI: Not available
Keywords: Market Monitoring ; Market Surveillance ; Market Manipulation ; Financial Markets ; Business Intelligence ; Service Systems ; Service Dominant Logic ; High Frequency Trading ; Insider Trading ; Market Abuse ; Data Mining ; Text Mining ; Service Value Networks ; Financial Taxonomy