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Analysts at the SEC mine 16yrs and 10B rows of trading data via a home-grown program called Artemis backed up by a $90M 5yr contract with Palantir to analyze patterns and relationships among multiple traders.
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Formed in 2010, the Analysis and Detection Center of the SEC’s Market Abuse Unit culls through billions of rows of trading data going back 15 years to identify individuals who have made repeated, well-timed trades ahead of corporate news. The new strategy is starting to show results, enabling the SEC to launch nine insider trading cases, around 7% of cases the agency brought since 2014 against people who trade on confidential corporate information.
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