A Performance Improvement Model for Market Surveillance Application

In this study, a performance improvement model is developed in market surveillance application module used by Borsa Istanbul Surveillance Applications Service, within the scope of audit and surveillance activities. The service stands as a good example of high performance and high throughput service application in the domain. It was observed that the development activities through iterative code refactoring based on method profiling yielded increased performance on memory and disk access, therefore overall throughput. As a result of this work, data processors and interpreters in surveillance system were significantly accelerated, and thus operational speed up was obtained. The only disadvantage observed was the increase in memory consumption. Yet, when the results of the developed study are considered, it is understood that this increase can be considered as negligible. Based on the quantitative results obtained in the experiments, it can be conclued that the model used in improvement was successful. Furthermore, operational personnel made positive qualitative evaluations promoting organizational acceptance of the model.

I. Market Surveillance Problem

“Audit and Surveillance Department” is a service organization within Borsa Istanbul that carries out important functions for the honest, reliable, impartial, fair and more competitive transactions in the stock market. In this context, it focuses on the measures and regulations regarding illegal activities in the market. Market surveillance activities include illegal activities such as information misuse, market fraud, market abuse, unauthorized activity, breach of trust, and disguised profit transfer [1]. In order to carry out aforementioned activities, surveillance function is carried out by using VBTS (Volatility Based Precaution System), TYS (Measure Management System) and other in-house applications developed by Borsa İstanbul Surveillance Department specifically. VBTS is used in the implementation of the relevant decisions on the stocks traded in Borsa Istanbul in order to protect against the risks brought by excessive volatility [2]. TYS, on the other hand, is aimed at establishing and regulating measures to prevent illegal transactions in the stock market in order to carry out market activities in a more fair and transparent manner and to prevent illegal and market-distorting activities. The schematic diagram of surveillance activities is shown in Figure 1.