SEOUL, May 4 (Korea Bizwire) — The Korea Exchange announced Thursday that it has initiated a new market surveillance system based on artificial intelligence.
The main bourse operator said the construction of the new system, EXIGHT, was complete and a kickoff celebration was held the same day.
EXIGHT is a portmanteau of the words “exchange” and “sights” signifying the watchdog function of the program launched after 18 months of development and tests.
The newly implemented system will utilize the latest AI model XGboost to detect any abnormalities in the stock market.
The new system will track and analyze trading patterns based on 54 market variables compared to the two or three variables utilized by previously existing surveillance methods systems.
The bourse explained that the system would be able to hone in on any abnormal patterns in the stock market more rapidly than in the past.
EXIGHT will also slash the time required to secure data related to suspected unconventional transactions from five days to an hour.
This would also affect the time required to establish guidelines to report the unfair practices, shortening them from a month to less than a week.
In addition, big data will be incorporated with business intelligence (BI), a technology-driven process that presents data visually, so that officials on the lookout are able to analyze and apply the data with ease.
This will decrease the time from detecting the abnormality to reporting it to relevant institutions from two months to around 40 days.
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