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Biz News Korea(Eng)
KRX to introduce AI system to monitor unfair transactions
- Collected
- 2016.08.25
- Distributed
- 2016.08.26
- Source
- Go Direct
KRX said on Wednesday the new system will be incorporated with cognitive computing and big data technology to keep close track and watch on suspicious deals and respond faster and effectively to illegal market activities.
Development of the system will start in November to be ready by the end of April 2018. The automated computing system will keep data on trade patterns to spot and prevent actions before unfair practices can take place. In addition, the system will provide big data analysis by covering news, company disclosures and online posts to make up for the limitations of numerical analysis.
With this system, the average time to detect and analyze each transaction will be reduced dramatically from at least two days to one hour, KRX said.
The new market surveillance system will be based on Linux, and the data I/O performance will be supported by a semiconductor-based storage device. As a result, the system’s data handling volume will be raised by 2.8 times to 4.14 million cases per second and data processing time will become faster by 2.1 times.
Kim Young-joon, market surveillance system team leader at KRX, said the next-generation market surveillance system will be in place to meet various needs, such as detection of unfair transactions and oversight on financial companies.
By Park Yoon-gu
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