TECH TUESDAY is a weekly content series covering all aspects of capital markets technology. TECH TUESDAY is produced in cooperation with Nasdaq.

New data sources and trade surveillance technologies have become the primary drivers of change, according to most respondents to Nasdaq’s 2022 Global Compliance Survey (GCS).

Two-thirds of GCS respondents in last year’s survey said the shift to working from home due to the pandemic is driving the transformation of compliance practices.

The change this year reflects the growing importance of global external factors, such as the need to monitor new products such as digital assets; growth in trading venues; a shift from OTC products traded to electronic markets; and increasing focus on analytics, behavioral science, and machine intelligence to complement existing detection systems. Overseeing new investment strategies, products and asset classes requires compliance teams to collect and normalize data from multiple sources to create a single source of truth.

Nearly two-thirds, 65% of GCS respondents said the increased regulatory focus on market manipulation such as spoofing, layering and front-running poses the greatest risk to trading surveillance teams. The majority, 55%, also said that processing and analyzing data more intelligently is the most important requirement for mitigating this risk. This has fueled investment in technology and increased demand for access to data via APIs and analytics that provide insights into data.

For example, cloud investment has grown from 0% just three years ago to a significant investment area in surveillance. Electronic communications coverage has also greatly increased to identify market abuse and as more retail investors entered the market.

In contrast, there has been a decline in investment in artificial intelligence capabilities over the past three years, which may indicate that companies are becoming more selective in their use of AI as understanding of where it can add value has evolved . However, nearly half, 48%, of respondents said they will invest in AI again in the next 12 months.

More than 42% of respondents also believe that investments in surveillance systems will continue to increase in 2022, with a focus on improving data quality, improving analytics and monitoring digital assets.

Over the next 12 months, cost scalability – the increasing volume of products and data companies need to monitor – and reducing false positives will be the top challenges, according to half of those surveyed. The survey states, “These issues are directly related to reducing total cost of ownership through the adoption of more integrated technology, further reliance on third-party expertise, and exploration of managed service models.”

But the need to reduce links to false positives for cost scalability also underscores the need to apply enhanced analytics to a broader range of compliance data to generate relevant alerts, including from electronic communications and social media. Integrating insights and data signals from all compliance channels could also significantly improve the detection of market abuse and financial crime.

The survey also found that three-quarters, 77%, of organizations maintain various policies and resources for reputational risk management, up from 63% in 2019. Reputational risk management has always been a top concern, and 80% of GCS participants say their Employers foster a company -broad culture of proactive compliance. Companies can protect and prevent reputational damage related to market manipulation by efficiently monitoring anomalous trading patterns while optimizing processes.

The last GCS survey was conducted in October 2021 and includes responses from more than 150 experienced compliance professionals from predominantly sell-side companies but with a healthy buy-side representation of retail banks or business units and market infrastructure providers. Nearly half, 45%, of those surveyed have more than 10 years of experience in compliance roles and 59% hold a C-Level, VP-Level, or Director position. Nasdaq has been collecting opinions annually since 2015, making the survey unique in providing a comprehensive tracking of compliance trends over a period of significant regulatory, economic and social change.

Hokies, Panthers meet for the 22nd time on the gridiron on Saturday

Soccer
10/4/2022 8:00:00 am

Virginia Tech and Pitt will face off on Saturday afternoon for the 22nd time in their series history, rekindling a rivalry dating back to 1993. Kick-off is scheduled for 3:30pm ET at Acrisure Stadium and will be broadcast on ACC Network.

Tech currently leads the series by a slim 11-10, with this matchup being neck-and-neck over the years. For a closer look at the history of the two, read below for techs Series snapshotpresented by AAA.

Memorable Games

November 23, 2019 – Virginia Tech 28, Pitt 0 (Blacksburg, Virginia)
The only shutout of the series came during Tech’s most recent win, a convincing 28-0 win at Lane Stadium three years ago. The Hokies were able to choke off the Panthers’ offense by allowing just three third-down conversions from 15 tries and 177 yards total offense to force 10 punts. Defensive lineman Norell Pollard, who was a true freshman at the time, had a seven-yard scoop and a goal just after a linebacker Rayshard Ashby was sacked in the first quarter, which would have been enough to win the game, but Tech had three touchdowns on offense , to put it a way. The shutout marked defensive coordinator Bud Foster’s last and is also the last time Tech forced a clean sheet.

 

A group of Hokies celebrate with the lunch pail after the game.

Defensive coordinator Bud Foster enjoys his final game at Lane Stadium with his family after the win.

Receiver Tre Turner makes an acrobatic 3-yard touchdown catch over V’Lique Carter.

defensive back Jermain Waller deflects a pass to Pitt wide receiver Taysir Mack.

November 18, 2017 – Virginia Tech 20, Pitt 14 (Blacksburg, Virginia)

One of the most iconic goal-line standers in recent memory, Tech had his back to the wall with Pitt having the ball first at the one-yard line and scoring the goal with a minute remaining. The Hokies had to make four stops in a row to maintain a six-point lead and the win, and they did so vigorously. Tech stopped two runs on the first and second down before an incompletion caused a final run on the fourth down. A run to the left was snuck out by defenders Reggie Floyd and Khalil Ladler to seal it. But people forget before that incredible goal-line stand was set up four times in a row by great hustle from Floyd, who had to cover a ton of ground and Pitt’s Jester Weah on a 74-yard reception had to tackle the game in front of the stand with tight resources to keep the game for tech alive.

Defensive lineman Tim Settle is trying to sack Pitt quarterback Kenny Pickett.

Wide receiver Cam Phillips gets ready to beat Pitts defensive back Jordan Whitehead stiff-armed.

Defensive defender Reggie Floyd celebrates after a tackle.

The legendary goal line is about to make the game-breaking fourth stop.

Oct. 27, 2016 – Virginia Tech 39, Pitt 36 (Pittsburgh, Pa.)

The last time Tech won in Pittsburgh was in 2016 and won by a score of 39-36. The Hokies were led by quarterback Jerod Evans, who threw for 406 yards and two touchdowns. Wide receiver/tight-end hybrid Bucky Hodges led the team with 145 receiving yards and fellow wideout Isaiah Ford was just behind him at 143 yards, but Ford’s go-ahead touchdown would be just over seven minutes from time in the fourth quarter finally decide the game. Kicker Joey Slye made history by amassing 21 points for himself, the most kicker of all time in school history (6 field goals, 3 extra points).

Defender Terrell Edmunds tackles Pitt quarterback Nathan Peterman.

Quarterback Jerod Evans delivers a throw.

Wide receiver Isaiah Ford catches and seeks the open field.

Kicker Joey Slye drills one of his six field goals.

October 28, 2000 – Virginia Tech 37, Pitt 34 (Blacksburg, Virginia)

The matchup between the two programs in 2000 was nothing short of stressful, with quarterback Michael Vick going down late in the first half, six lead changes and a game-winning field goal staying just over 10 seconds in the game. With just six minutes left in the second quarter, Vick was pulled out of the game with a sprained right ankle. Despite losing their star quarterback, the Hokies overcame adversity to remain undefeated behind running back Lee Suggs and backup quarterback Dave Meyer. Suggs led the rushing attack with 164 yards and three touchdowns while Meyer completed three straight passes on Tech’s final drive of the game to set up the game-winning field goal for Carter Warley with just 16 seconds left in the game.

Defensive lineman Chad Beasley fires Pitt quarterback John Turman.

September 11, 1993 – Virginia Tech 63, Pitt 21 (Pittsburgh, Pennsylvania)

The first-ever duel between the two teams came in 1993, when fans watched the Hokies claim the first win of the series in a dominating manner. While quarterback Maurice DeShazo threw for 175 yards and two touchdowns, the rushing attack stole the show, racking up 500 yards on the ground (the most in program history). Key rushers included Dwayne Thomas, who rushed for 170 yards and two touchdowns, and Tommy Edwards, who rushed for 54 yards and three touchdowns. The win put the Hokies 2-0 up in the season and helped propel Tech on his first bowl trip that would be the start of the 27-year streak.

Quarterback Maurice DeShazo scans the field in the pocket.