Norkom to provide Wall Street software

NORLOM TECHNOLOGIES announced yesterday it will provide Wall Street’s Back Office with crime prevention software.

Wall Street’s Back Office, known as The Depository Trust & Clearing Corporation (DCC), settled trades totalling $1.4 quadrillion (€1.06 thousand trillion) in 2005 for financial services institutions.

Norkom’s software will monitoring over 50 million US domestic, fixed income and equity trades daily.

The software monitors trades, automatically issuing alerts to the DTCC’s investigations and compliance team when it identifies suspicious transactions that fall outside of normal parameters.

DTCC supports over 2,500 customers in its core clearance and settlement business, including 250 full-service major financial firms.