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(New York, NY) March 9, 2016– ACA Compliance Group (ACA), a global leader in providing compliance, cybersecurity, performance, and technology solutions to financial services firms, has acquired Decryptex Financial Laboratories.
Founded in 2014 by Daniel Cashion — a 24-year industry veteran who was previously head of quantitative strategy at an over $20 billion hedge fund — New York-based Decryptex is pioneering the use of advanced algorithmic search technology for capital markets trade analysis and surveillance. Developed by a team that has decades of experience executing trading strategies and overseeing trading and sales desks, Decryptex’s revolutionary software employs complex search algorithms and big data that allow firms to efficiently and proactively identify anomalous trading activity within their organizations. Today, Decryptex software is used by large investment managers, broker-dealers, and private fund managers to empirically surveil trade and market data for suspicious patterns, insider trading, rogue trading, manipulation, fairness, and other issues in order to protect their firms from reputational, regulatory, and financial risks.
As a result of the transaction, Decryptex will become part of ACA Technology Solutions, the technology division of ACA Compliance Group. Daniel Cashion, along with Decryptex’s Robert DiFazio and Michael Lehman, will join ACA as partners. DiFazio and Lehman collectively bring over five decades of front-office experience from major banks and hedge fund managers.
“ACA is the perfect home for Decryptex,” said Cashion. “Trade surveillance is an often-overlooked but key component of any successful compliance program, and is essential to maintaining a firm’s success and integrity. Using Decryptex, firms can eliminate labor-intensive manual reviews of spreadsheets, trade blotters, and audit trails by consolidating their trade data in one place and running advanced searches against 100% of that data. Most importantly, Decryptex allows firms to accurately and efficiently identify issues and patterns that are difficult or impossible to detect manually through sampling.”
“We are excited to have the expert Decryptex team and their cutting-edge software join the ACA family,” said Robert Stype, Managing Partner at ACA Compliance Group. “Yesterday, the SEC announced the creation of OCIE’s Office of Risk and Strategy, which will strengthen OCIE’s technological capabilities and focus on risk analysis and trade and market data surveillance. Decryptex allows firms to proactively identify issues ahead of regulatory scrutiny by providing a platform for compliance officers to effectively and efficiently conduct trade surveillance.”
Details about the transaction were not disclosed.
About ACA Compliance Group
ACA Compliance Group ("ACA") is a leading global provider of regulatory compliance products and solutions, cybersecurity and technology risk assessments, performance services, and technology solutions to the financial services industry. Founded in 2002 by former SEC examiners and state regulators, ACA develops and provides its products through a world-wide team of former SEC, FINRA, FSA (FCA), NYSE, NFA, and state regulators, as well as former senior in-house compliance professionals and technologists from prominent financial institutions. ACA serves a diverse base of leading investment advisers, private fund managers, commodity trading advisors, investment companies, and broker-dealers. ACA’s products include standard and customized compliance packages, cybersecurity and technology risk assessments, GIPS®verifications and other performance services, and a wide variety of technology solutions for financial services firms.
For more information, please visit www.acacompliancegroup.com.
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