Senior Officer - Market Surveillance
Nasdaq Dubai
Total years of experience :8 years, 11 Months
Market Surveillance:
Providing real time surveillance for NASDAQ Dubai markets,
Analysing trading alerts generated by the automated market surveillance software,
Escalating suspicious activities to the Head of Market Regulation,
Preparing internal surveillance investigation reports on potential market misconduct
Providing monthly updates to the Regulatory, Dubai Financial Services Authority (DFSA),
Drafting Policies and Procedures for Market Surveillance function,
Building effective working relationships with the relevant stakeholders.
Compliance and AML:
Compliance with the DFSA AML Rules,
To ensure that AML Policies and Procedures are reviewed and up to date,
Conducting CDD reviews, via Reuters World-Check, Screening Online, basic internet search, etc. And ensure that any findings are escalated to the MLRO
I started working in BFX as a Market Surveillance Manager and after one year, I was promoted as Senior Manager in Exchange Operations (Trading, Risk Management and Market Surveillance Department). As being in the establishing team, I have initiated and delivered the projects, along with the documentation, testing, research and team building as following:
• Market Surveillance:
o Defined detailed requirements,
o Evaluated Market Surveillance products in the market,
o Proposed 1 m dollar project to the group which was accepted and the solution was applied 9 worldwide exchanges of the FT Group,
o Instrumental in testing and deployment to BFX followed by other exchanges in FT group.
• Risk Management:
o Undertook research for best model to value risk in an exchange clearing house,
o Recommended SPAN (CME owned risk management application for margining) application and oversaw its implementation within the BFX clearing House,
o Calculated the SPAN arrays and risk margins for each product to be launched,
o Documented all process and procedures.
• Clearing and Settlement:
o Researched the banks with capability of providing clearing services in Bahrain,
o Worked as part of a team that implemented the services of Standard Chartered Bank,
• Islamic Markets:
o Prepared Operating Procedures, roles and responsibilities of the Bait Al Bursa (BaB) - Islamic market division of BFX,
o Successfully managed the team and run the project from the beginning for the complete testing of the e-Tayseer application for the Murabaha transactions,
o Coordinated with the Suppliers, Purchasers and Financial Institutions,
o Managed daily activities of the Exchange Operations for the Murabaha transactions.
• Documentation: Have initiated, completed and updated several documents such as:
o Market Model, Standard Operating Procedures for the Exchange Operations, Business and the Exchange Rules (revision of the operations related parts), Alert Monitoring and Closure Procedures, Risk Management at BFX, How Clearing and Settlement works, etc.
• Other Activities:
o Specified and Implemented excel for the daily MIS reports and standardized daily activities within the department,
o Design and run internal and external training on Conventional and Islamic Markets and applications.
Being part of the establishing team and one of the first employees of DGCX, besides my main responsibilities as listed below, I handled business development activities of the Turkish Members and organised a road show to Turkey. I also participated in training Members and the new employees about the electronic system and futures markets.
• Market Surveillance
o Worked as part of a team that was responsible for monitoring 200 members generating around 5000 lots of traded volume,
o Detecting manipulative activities in the market,
o Taking prompt and necessary actions in case of any market manipulation.
• Risk Management
o Frequently analyzing the margin requirements based on the market volatility,
o Real time monitoring Member's margin and mark to market limit utilizations, open positions and the possible daily loss, taking prompt and necessary actions,
o Having an active role in the Price Committee to calculate the Daily Settlement Price at the end of the trading session.
• Trading
o Controlling Member's privileges, trades, orders, access rights, limits etc.,
o In case of any price movement, relaxing daily price range,
o Setting the Market Time-Table,
o Following the daily check-list along with the other shift.
• Other Activities
o Undertaking application testing for the new releases and for the new products,
o Preparing MIS reports to the Management team, media and the Regulatory authorities,
o Performing research for the new products to be introduced in the Exchange,
o Handling Member's queries,
o Managing one shift with the full attention and responsibility, taking initiatives and performing error free daily activities.
Apart from successfully executing my day to day activities as listed below, I played an active role in different projects such as: 1 year of project experience in “Opening a Diamond exchange in Istanbul Gold Exchange”, "Working on Kimberley Process Certification and have Turkey as one of the participants”.
• Handling spot, lending and futures market operations in the Exchange,
• Coordinating official communication between the Exchange and Ministry, Treasury, Capital Markets Board of Turkey and the other Exchanges,
• Preparing daily bulletin about the financial markets to the media and the Management,
• Inspecting end of the day activities (including clearing and settlement activities).
Carry out the projects between Capital Markets Board of Turkey and Istanbul Stock Exchange, translating some documents, preparing daily bulletin about the financial markets.