Physical and financial trade surveillance
Trade surveillance for energy and commodity trading
BroadPeak monitors physical and financial trading activity across energy and commodity markets in a single platform. Positions, orders and executions are analysed together and mapped by location, surfacing cross-market manipulation patterns that surveillance solutions built for financial markets alone cannot detect.
Direct, certified connectivity to 30+ exchanges and native integration with E/CTRMs means standardized, real time trade data from day one. Alerts surface sooner and investigations move from weeks to hours.
Monitor every trade, order, and cancellation
Prioritized, not just captured
With BroadPeak’s Trade Surveillance solution, energy and commodity trading clients gain clear, prioritised trading insights across physical and financial markets, helping them focus on the highest risks and investigate suspicious activity more efficiently.
Detect market abuse earlier
Real-time monitoring
A centralized view of insights allows energy and commodity trading firms to quickly access high-priority alerts, track open cases, and analyze trading/order activity efficiently.
Monitor physical and financial trades
Deep market visibility
Intuitive visualizations, customization, and drill-down tools deliver clear insight into trader behaviors. Identify spoofing, layering, washing, Phys/Fin, and block trades.
Prioritise with machine learning
Intelligent alerting
Our machine learning model learns from your historical alert resolutions to prioritize high-risk behavior and reduce false positives, so analysts focus on the alerts that matter, not routine pattern noise.
Investigate faster
Order book depth
Up to 10 levels of depth for ICE and CME lets analysts trace suspicious trading behaviour, accelerate investigations, and improve confidence in investigative findings.
Identify risk early
Most surveillance tools reconstruct trading activity from end-of-day extracts. BroadPeak analyzes orders and executions as they are placed.
Physical trade surveillance traditional solutions miss
Complete oversight of E/CTRM activity
BroadPeak’s Trade Surveillance solution integrates directly with ETRM/CTRM systems to capture physical energy and commodity trades often missed by traditional tools. This enables cross-market surveillance, linking physical positions with financial derivatives and hedging activity for comprehensive trade monitoring.
Trade surveillance and spoofing in commodity markets
Spoofing has become a top enforcement priority in commodity markets. Market volatility and physical delivery requirements create legitimate reasons for rapid order changes, making spoofing harder to detect and easier to wrongly allege. This whitepaper explains spoofing and how modern surveillance technology protects against manipulation and false accusations.
Trade surveillance capabilities
Every market you trade
Energy and commodity trading firms trade across a wider range of markets than most surveillance platforms are built to handle, from physical power and gas to FX, credit, and interest rates. BroadPeak covers the full scope, so compliance and trading teams are not working around the edges of a platform designed for someone else’s business.
Markets and instruments supported
Markets: Power, natural gas, crude oil, refined products, LNG, metals, agriculture, carbon, freight, FX, equities, interest rate, credit.
Instruments: Listed futures and options, OTC swaps, structured contracts, and physical commodity contracts.
Integrates with
ETRM/CTRM platforms, exchanges, order management systems, brokers, data providers, FIX, REST APIs and internal trading systems through BroadPeak's data integration platform.
Trading strategies monitored
Physical/financial trading, basis trading, convergence bidding, spread trading, calendar spreads, cross-product trading and cross-market trading.
Market abuse detected
Spoofing, layering, wash trades, momentum ignition, front running, benchmark manipulation, cross-market manipulation, quote stuffing and other configurable surveillance scenarios.
Regulatory coverage
Designed to support compliance with REMIT, MAR, MiFID II, CFTC, FERC and exchange-specific market conduct rules.
Designed for
Energy and commodity trading firms, including power, gas, oil, metals, agriculture, utilities and environmental markets.
Smarter trade surveillance
What sets BroadPeak apart
BroadPeak’s Trade Surveillance solution captures all orders and trades in a single, centralized platform. By combining OTC, E/CTRM, and exchange data, energy and commodity trading firms gain a complete view of physical and financial market activity, enabling cross-market surveillance to detect spoofing, wash trades, and other forms of market abuse.
Cross-market surveillance reduces false positives
BroadPeak’s Trade Surveillance solution captures all orders and trades across exchanges, OTC, and physical markets in one platform. Monitor spoofing, wash trading, and layering with complete market context. See correlated activity across ICE, CME, Nodal, and E/CTRM systems including ION, Orchestrade, Molecule, Previse Systems, and Fendahl to distinguish legitimate trading from market manipulation.
Custom alerts for business-specific compliance
Create custom surveillance alerts to monitor key business activities: trades with specific brokers, transactions above size thresholds, activity in restricted products, or unusual trading patterns. Automated workflows route alerts to the right analysts based on market, product, or manipulation type. Pre-configured rules detect front running, momentum ignition, and benchmark manipulation without manual monitoring.
Configure surveillance rules without IT support
Our intuitive interface lets compliance teams update firm IDs, onboard new asset classes, adjust alert thresholds, and adapt to regulatory changes independently. No coding or development cycles required. Modify surveillance parameters for REMIT, MAR, FERC, and CFTC compliance as regulations evolve. Your compliance team stays in control, cutting response time from weeks to hours.
Audit-ready compliance documentation and reporting
Case management captures every surveillance investigation with complete audit trails. Capture alert details, analyst notes, trader communications, supporting evidence, and final disposition. Pre-built reports for REMIT, MAR, CFTC, and MiFID II examinations show alert volumes, investigation timelines, and resolution outcomes. Regulators see evidence-based compliance in minutes, not days.
Accelerate onboarding with machine learning insights
Machine learning flags high-priority alerts based on historical investigation outcomes. New analysts learn faster by reviewing past cases with full context: market conditions, trader behavior patterns, and experienced analyst notes. Pre-classified alert patterns help junior staff understand both technical surveillance and human judgment required for complex investigations.
Enterprise-wide surveillance
Operations, Risk, and Front Office teams use the same surveillance solution to monitor trading activity, positions, and market exposure. Compliance data informs risk limits, trader performance evaluation, and strategic business decisions. Real-time alerts protect against reputational damage, regulatory fines, and trading losses from market manipulation.
How BroadPeak's Trade Surveillance solution works
Four-step surveillance process
BroadPeak continuously monitors orders, trades and positions across exchanges, OTC markets and ETRM/CTRM systems to detect market abuse and suspicious trading behaviour. Configurable surveillance rules identify behaviours such as spoofing, layering and wash trades, while high-risk alerts are prioritised to help analysts investigate more efficiently and support regulatory requirements.
Data integration
BroadPeak's Trade Surveillance solution ingests trade, order, and quote data from exchanges including ICE, CME, and Nodal, as well as execution platforms, OTC trades, and E/CTRM systems. Real-time streaming via FIX protocol, REST APIs, and certified exchange feeds ensures no data gaps and creates a single, standardized surveillance dataset across both physical and financial markets.
Alert generation
Over 120 configurable alert rules detect a broad spectrum of market abuse behaviors including: spoofing, layering, wash trades, cross-market manipulation, momentum ignition, quote stuffing, front running, banging the close, benchmark manipulation, and physical/financial patterns. Machine learning prioritizes alerts based on historical resolution patterns, helping teams focus on the highest-risk behaviour without alert overload.
Investigation workflow
Analysts gain full visibility into physical and financial trades across energy and commodity markets, including order book depth, trade sequences, and position data. Drill-down visualizations reveal trader behaviour patterns across products, venues, and time periods, accelerating investigations and supporting cross market surveillance.
Audit trail and reporting
Case management captures every investigation step, including evidence, notes, attachments, and outcomes. Generate audit-ready reports for REMIT, MAR, FERC, CFTC, and MiFID II reviews. All system actions are logged to support regulatory examinations and internal oversight.
Complete order book visibility
Total transparency
BroadPeak’s Trade Surveillance solution captures every bid, cancel, amend, and quote acknowledgment in real time. Energy and commodity trading firms gain full visibility into market activity, enabling faster detection of manipulative behaviors such as spoofing, layering, and wash trades, and supporting regulatory compliance.
Frequently asked questions
What energy and commodity trading firms ask about BroadPeak’s Trade Surveillance solution.
What is the difference between BroadPeak and enterprise surveillance platforms?
BroadPeak’s Trade Surveillance solution is tailored for energy and commodity trading, capturing both physical and financial trades across the full lifecycle, including physical/financial correlation, convergence bidding, and basis trading. Unlike enterprise platforms, we integrate directly with E/CTRM systems that others often miss. Deployment takes weeks, not months, with live, certified connections to global exchanges including ICE, CME, and Nodal.
What types of market abuse can BroadPeak detect?
BroadPeak’s Trade Surveillance solution detects spoofing, layering, wash trades, cross-market manipulation, front running, banging the close, momentum ignition, and Phys/Fin trading patterns. Every order (placement, modification, or cancellation) is captured in real time, with order book depth up to 10 levels for key exchanges like ICE and CME.
Does BroadPeak support both physical and financial trades?
Yes. BroadPeak integrates OTC trades, bilateral swaps, off-exchange transactions, and exchange data from ICE, CME, and Nodal. Physical and financial positions are analyzed together, enabling detection of Phys/Fin manipulation patterns unique to energy markets.
Can I see all potential violations without alert overload?
Yes. BroadPeak’s Trade Surveillance solution decouples alerts from surveillance events. You can review all potential wash trades in reports while receiving alerts only for critical thresholds, such as transactions within 60 seconds at 5% price sensitivity. You control what triggers alerts versus what is recorded for reporting.
Can BroadPeak automate regulatory reporting?
Yes. Case management tracks alert details, analyst notes, evidence, and trader communications, providing a complete audit trail. Generate reports for REMIT, MAR, FERC, CFTC, and MiFID II examinations, showing alert volumes, investigation outcomes, and response times.
How customizable are the surveillance rules?
Fully configurable without coding. Wash trade detection follows regulatory rules (offsetting transactions, same contract, same day, similar price) but you can adjust parameters: narrow the time window from full day to 60 seconds, set price sensitivity from 5% to exact match. Spoofing thresholds separate algo trading (zero seconds) from trader behavior (1+ seconds). BroadPeak also develops custom reports during implementation.
The company we keep
Clients
Enterprise grade infrastructure
Secure by architecture
Our secure managed hosting on AWS uses Virtual Private Clouds (VPCs) for robust protection, while easy-to-build data streaming ETL pipelines move data seamlessly to Redshift or Snowflake through a low-code interface.
Perspectives
Insights
- Blog
BroadPeak’s Trade Surveillance solution gaining traction
- Blog
Trade surveillance: Balancing technology with human expertise
- Blog
Trade surveillance is not a box-ticking exercise