15 Best Solidus Labs Rivals for Trade Surveillance In 2026

Trade surveillance is getting more advanced. In this article, I will cover some of the best alternatives to Solidus Labs. I will review Nasdaq SMARTS, NICE Actimize, Eventus, TradingHub, SteelEye, TRM Labs, Elliptic, and others.

The competitors mentioned offer solutions to enable their clients to meet their regulatory requirements by providing them end-to-end solutions to enhance surveillance of their trades and markets to detect market abuse.

Key Points

Solidus Labs Rival	Explanation
Nasdaq SMARTS	Advanced surveillance platform detecting market abuse across multiple asset classes and venues.
NICE Actimize	Financial crime platform supporting trade surveillance, market abuse detection, and compliance workflows.
Eventus	Trade surveillance solution providing configurable monitoring, alerts, investigations, and regulatory reporting capabilities.
TradingHub	Analytics platform helping financial firms identify suspicious trading patterns and market abuse.
FIS Protegent	Surveillance technology monitoring trading activity, detecting risks, and supporting regulatory compliance programs.
b-next	Compliance technology delivering automated trade surveillance and market abuse monitoring for financial institutions.
SteelEye	Data-driven compliance platform combining surveillance, analytics, reporting, and regulatory data management capabilities.
ACA Group	Compliance solutions provider offering trade surveillance, monitoring, testing, and regulatory advisory services.
TRM Labs	Blockchain intelligence platform helping detect suspicious cryptocurrency transactions and financial crime risks.
ComplyAdvantage	AI-powered financial crime technology supporting transaction monitoring, screening, and suspicious activity detection.
Elliptic	Blockchain analytics platform identifying crypto transaction risks, illicit activity, and financial crime exposure.
Merkle Science	Blockchain intelligence platform providing cryptocurrency transaction monitoring, investigations, and risk detection capabilities.
Inca Digital	Digital asset intelligence platform analyzing market data, trading activity, and financial risks.
Broadridge	Financial technology provider offering surveillance, compliance, analytics, and trading workflow solutions globally.
Scila AB	Market surveillance technology detecting manipulation, insider trading, and other suspicious trading behaviors.

15 Best Solidus Labs Rivals for Trade Surveillance

1. Nasdaq SMARTS

Nuveen provides investment solutions to institutions, intermediaries, and financial professionals across the U.S. with the support of Advisors Distributors. Its mission is to serve the investment needs of investors in the U.S.

Nuveen aims to achieve this by investing in boutique asset managers, a segment that has existed for more than eight decades. These investment boutiques provide investment solutions in equities, fixed income, alternatives, and multi-asset.

The multi-asset solutions integrate several of the investment boutiques. Nuveen provides discretionary and non-discretionary solutions to its investors. Its asset management business focuses on retail and institutional clients.

Through its multi-asset solutions, the group integrates seven investment boutiques. As at December 2020, the group had assets under management and advisement of US$1.2 trillion. The investment solutions target liability-aware and risk-aware strategies.

Nasdaq SMARTS Pros & Cons

Pros	Cons
Exchange‑grade accuracy – Trusted by global exchanges for precise detection.	High cost – Expensive for mid‑size firms.
Multi‑asset coverage – Equities, derivatives, commodities.	Complex onboarding – Requires heavy data integration.
Advanced pattern analytics – Strong spoofing/layering detection.	Limited crypto focus – Not built for digital assets.
Regulatory trust – Used by regulators worldwide.	Rigid configuration – Less flexible than newer platforms.

2. NICE Actimize

NICE Actimize offers cross-asset surveillance solutions. Its offering includes trade and communications surveillance and behavioral analysis. Its market abuse solutions cover various forms of insider trading, including layering and front running, as well as cross asset relay, wash trading and manipulations.

The solution is plug-and-play across various asset classes and trade venues. The surveillance solution employs behavioral models and AI to preempt market abuse.

The solution is integrated with the case management system, which automates workflows for supervisory and regulatory investigations. The solution covers various market regulations.

The solution differentiates from its competitors by providing surveillance solutions to correlate communications, orders and trades to provide firms with end-to-end surveillance solutions.

NICE Actimize Pros & Cons

Pros	Cons
Unified surveillance – Trade + comms + behavior analytics.	High implementation cost – Expensive enterprise deployment.
Strong AI models – Reduces false positives.	Complex setup – Requires long configuration cycles.
Global compliance – FINRA, FCA, ESMA support.	Slower crypto adoption – Not crypto‑native.
Enterprise case management – Deep investigation workflows.	Heavy data requirements – Needs large data pipelines.

3. Eventus

Eventus Validus provides market surveillance solutions for exchanges, broker dealers, and other financial services firms. The event surveillance reporting system (ESRS) offered by Validus, detects market abuse including spoofing, layering and cross market manipulation.

Validus extends its surveillance to traditional as well as digital asset markets providing it an edge over Solidus. Real time analytics allows Validus to set user defined rules for surveillance. Eventus, through its detection solutions, strivesto rule out falses positives.

Eventus’ solutions offers a case management system providing audit trails and documentations to assist with regulatory requirements.

Eventus, along with its surveillance solutions, provides consulting services and rules to assist clients meet requirements under CFTC and SEC. Eventus is faster and more flexible than its peers and is predominantly used by firms involving in latency sensitive trading.

Eventus (Validus) Pros & Cons

Pros	Cons
High‑speed detection – Ideal for exchanges.	Requires technical expertise – Complex rule tuning.
Crypto + traditional coverage – Strong hybrid surveillance.	Limited comms monitoring – No unified comms surveillance.
Low false positives – Precision‑focused analytics.	Smaller ecosystem – Less enterprise tooling.
Highly configurable – Venue‑specific logic.	Manual tuning needed

4. TradingHub

TradingHub specializes in quantitative analysis to identify elaborate manipulation in the markets. They cover all major financial assets and derivatives. They acquire and analyze data from multiple financial venues. With that data, they statistically identify abusive behaviors.

The technology uses machine learning and other advanced analysis to identify potential market abuses and create a risk score. Their systems prioritize alerts and allow users to perform an in-depth analysis of potential market abuses.

The company has a focus on the European, US, and Asian markets. Banks, primarily large international banks, use TradingHub’s technology to provide them actionable information to prevent market abuses.

TradingHub Pros & Cons

Pros	Cons
Quant‑driven detection – Very accurate anomaly spotting.	High cost – Premium pricing.
Multi‑asset coverage – FX, FI, equities, derivatives.	Complex modeling – Requires quant expertise.
Strong insider‑trading analytics – Behavioral profiling.	Not crypto‑native – Limited digital‑asset tools.
Preferred by banks – Enterprise‑grade reliability.	Long deployment cycles – Slow onboarding.

5. FIS Protegent

FIS Protegent provides broker-dealers with core surveillance and market abuse coverage for equities and options. It covers the trading activities, from the retail to the institutional investor. Capabilities include surveillance of best executions, customer order suitability and manipulation.

The detection technology employs both rule-based and statistical models, and provides alerts of potentially suspicious trades. The alerts are integrated in the Protegent Workstation, a part of the larger FIS offering, and are used to conduct regulatory reporting and/or internal investigations.

Protegent fulfills the requirements of various regulatory bodies including FINRA and the SEC. Being integrated with the FIS broker dealer solution, it provides a single framework for surveillance and supervision.

FIS Protegent Pros & Cons

Pros	Cons
Broker‑dealer focus – Strong suitability/best‑execution tools.	Traditional‑market only – No crypto surveillance.
Integrated with FIS ecosystem – Smooth workflow.	Older UI – Less modern interface.
Good supervisory tools – Strong oversight features.	Limited advanced analytics – Less AI/ML.
Regulatory alignment – FINRA/SEC support.	Not ideal for large institutions – Scalability constraints.

6. b-next

b‑next’s solution integrates module‑based end‑to‑end surveillance and market-abuse detection for banks, exchanges and supervisory authorities. b‑next provides coverage for equities, derivatives, FX and fixed income.

Its solution uses behavioral analytics to detect market-abuse from different venues and consolidates market data from multiple sources. b‑next’s detection solution uses a combination of pre‑defined rules and machine learning to identify anomalies.

b‑next provides case management solutions integrated with alert systems to ease the regulatory audit process. Its solutions help banks and investment firms with compliance to MIFID II, MAR and other global financial markets’ rules.

Its primary differentiator is its ability to allow firms to adapt its surveillance solution based on different regional and local market rules.

b-next Pros & Cons

Pros	Cons
Flexible rules engine – Highly customizable.	Older UI – Less modern design.
Strong MAR/MiFID II support – European compliance strength.	Slower innovation – Updates less frequent.
Multi‑venue surveillance – Good for banks/exchanges.	Limited crypto analytics – Not digital‑asset focused.
Modular architecture – Easy to scale.	Requires technical setup – Heavy configuration.

7. SteelEye

SteelEye offers unified core surveillance to consolidate trade, communications, and record-keeping, and helps recognize market abuse across insider dealing, spoofing, layering and other forms. It covers various assets including equities, FX, fixed income and crypto.

SteelEye utilizes AI to analyze large amount of data and normalize it. SteelEye helps detect market abuse with rules, machine learning and behavior. SteelEye offers alerts and automated reports.

It provides services to assist in compliance with regulations like MiFID II, MAR, Dodd-Frank and others. The main strength of SteelEye is its “single data lake” architecture that helps eliminate data fragmentation and assist in thorough surveillance of communications and financial transactions.

SteelEye Pros & Cons

Pros	Cons
Unified data lake – Centralized surveillance.	Requires full data ingestion – Heavy initial load.
Trade + comms monitoring – Holistic detection.	Costly for small firms – Premium pricing.
Strong automation – Reduces manual work.	Complex setup – Needs structured onboarding.
Crypto support – Digital‑asset surveillance.	Learning curve – Advanced platform.

8. ACA Group

ACAGroup’s ComplianceAlpha platform provides broker-dealers and asset managers with tools for equities and fixed income surveillance and market abuse detection and facilitates other surveillance and monitoring needs across the asset class spectrum.

The solution provides tools to manage the risks posed by trading behaviors and employees at different organizational levels. It also helps monitor and manage risks at the portfolio level. The surveillance technology employs both rules-based and behavior-based techniques.

The solution helps simplify the case management and workflow processes of compliance by integrating alerts with case management and case documentation systems.

ACA’s maincompetitive edge is its integration of trade surveillance with other compliance processes to include, but not limited to, personal trading compliance, risk and regulatory compliance.

ACA Group Pros & Cons

Pros	Cons
Strong asset‑manager compliance – Ideal for funds.	Weaker market‑abuse detection – Less specialized.
Personal‑trading oversight – Employee compliance.	Limited crypto tools – Not digital‑asset focused.
Integrated compliance suite – Risk + surveillance.	Slower real‑time analytics – Not built for HFT.
Strong case management – Good documentation workflows.	Not ideal for exchanges – More buy‑side oriented.

9. TRM Labs

Crypto-first surveillance and market-abuse and financial-crime screening by TRM Labs covers extensively the major blockchains, tokens, and Decentralized Finance (DeFi) applications.

Through behavioral analysis of on-chain activities, wallets and transactions across multiple blockchains are attributed and tracked. For screening, TRM Labs employs anomaly detection in conjunction with Machine Learning for risk scoring. Clients are notified of potential irregularities.

TRM Labs’s solutions help investigate and analyze illicit activities and market abuse. The Travel Rule, AML and other related compliance modules are offered by TRM Labs. TRM Labs’s deep blockchain analysis differentiates it from its competitors.

Thus, TRM Labs, together with Solidus Labs, is one of the leading competitors in the digital asset surveillance space.

TRM Labs Pros & Cons

Pros	Cons
Deep blockchain forensics – Strong illicit‑flow detection.	No traditional surveillance – Crypto‑only.
Multi‑chain analytics – Broad asset coverage.	High cost – Full‑chain monitoring is expensive.
Strong risk scoring – ML‑driven detection.	Requires blockchain expertise – Complex for new teams.
Regulator‑trusted – Used by agencies globally.	Limited market‑abuse tools – Focuses on AML/illicit flows.

10. ComplyAdvantage

As an AML surveillance solution, ComplyAdvantage covers multiple asset classes and uses behavioral analytics to detect financial crime risk. Its detection technology contains AI and models risk of financial entities.

Client alerts integrate with case management to aid compliance staff working on both investigations and reporting. Compliance products help financial institutions meet requirements of the AML, KYC and Sanctions regimes and the Travel Rule.

The solution is strongest for financial firms that want an integrated technology solution for financial crime detection and market risk. The strength is primarily attributed to ComplyAdvantage’s extensive and growing risk database.

ComplyAdvantage Pros & Cons

Pros	Cons
Strong AML screening – Global risk database.	Not full surveillance – Missing market‑abuse tools.
Crypto‑risk scoring – Good digital‑asset coverage.	Limited trade analytics – Not built for trading venues.
Fast onboarding – Easy deployment.	Fewer advanced ML models – Less sophisticated detection.
Strong sanctions screening – Real‑time alerts.	Not ideal for exchanges – More AML‑focused.

11. Elliptic

Elliptic provides surveillance and market-abuse detection for the crypto market. Coverage is for major blockchains, stablecoins, and decentralized finance (DeFi) ecosystems. Surveillance is performed through risk-scoring and anomaly detection for transactions.

Detection and alert technologies employ machine learning and behavioral analysis, and risk models based on criminal and illicit activities.

The solutions enable tracing transactions and movement of funds for forensic investigations. The solutions cover AML and the Travel Rule.

Elliptic’s primary differentiator in the market is its deep on-chain intelligence, positioning it as one of the leading competitors for crypto exchanges and custodians.

Elliptic Pros & Cons

Pros	Cons
Leading blockchain intelligence – Deep on‑chain analytics.	No traditional surveillance – Crypto‑only.
Strong wallet attribution – High‑accuracy entity mapping.	Limited order‑book detection – Not built for market manipulation.
Trusted by regulators – Used globally.	High cost – Premium pricing.
Strong risk scoring – ML‑driven behavioral analysis.	Smaller DeFi coverage – Less DeFi depth than TRM/Merkle.

12. Merkle Science

MERKLE SCIENCE’s AI/ML solutions provide predictive crypto‑risk and market‑abuse solutions. We cover the major blockchains and underlying digital assets. Our solutions provide behavioral analysis and risk modeling, and attribution at the wallet level.

Our primary focus is on preventing threats through developing and implementing intelligence to uncover emerging suspicious patterns. Alerts are integrated into case management solutions.

Our primary regulatory focus is on AML and the Travel Rule. Our predictive risk engine provides Merkle SCIENCE a competitive edge in the digital‑asset surveillance and risk management space, particularly for fintechs and crypto exchanges.

Merkle Science Pros & Cons

Pros	Cons
Predictive risk engine – Forward‑looking analytics.	Smaller dataset – Less historical depth.
Strong DeFi analytics – Good protocol coverage.	Limited traditional surveillance – Crypto‑only.
Flexible API – Easy integration.	Requires technical setup – Developer‑heavy onboarding.
Typology‑based detection – Customizable risk models.	Smaller global footprint – Fewer enterprise clients.

13. Inca Digital

Inca Digital offers surveillance solutions for crypto markets. Its products detect market abuses across centralized and decentralized markets. It provides coverage for traditional and derivative markets, and DeFi and tokenized markets. Its surveillance solutions use order books and other market data to identify cross-market activities and behaviors.

The solutions use ML to develop behavioral profiles and identify outliers. The solutions generate case management alerts and reports to support investigations regarding market abuses including wash trading.

Compliance solutions of Inca Digital help financial institutions to meet AML and market integrity requirements. Its main strength is the integration of on-chain and off-chain market data, which helps regulators and institutional investor trading desks.

Inca Digital Pros & Cons

Pros	Cons
On‑chain + off‑chain fusion – Unique hybrid surveillance.	Complex ingestion – Heavy data requirements.
Strong manipulation detection – Ideal for regulators.	Limited enterprise workflows – Basic case management.
DeFi + CEX coverage – Broad crypto markets.	Smaller commercial presence – Less adoption.
Forensic analytics – Deep investigation tools.	Not built for banks – More regulatory‑focused.

14. Broadridge

Broadridge’s surveillance solutions support end-to-end trade and post-trade processing. Surveillance extends market abuse coverage, including best execution, insider trading, and market manipulation, across asset classes and structured products.

Aggregation and analysis of market data are used in surveillance. Rules based and statistical models are used in detection. The solution provides alerts and audit trails. In addition, the solution offers integration with Broadridge’s regulatory and legal compliance solution.

Broadridge provides surving Solutions to meet requirement of SEC, FINRA, FCA and international market regulations. Post-trade processing provides a competitive edge to Broadridge’s surveillance solution.

Broadridge Pros & Cons

Pros	Cons
Post‑trade integration – End‑to‑end visibility.	Slower innovation – Legacy architecture.
Multi‑asset coverage – FI, equities, derivatives.	Limited crypto tools – Not digital‑asset focused.
Enterprise reliability – Trusted by large institutions.	Heavy implementation – Long deployment cycles.
Strong regulatory alignment – SEC/FINRA support.	Less flexible – Harder to customize.

15. Scila AB

Scila provides surveillance systems to exchanges, regulators and trading venues. The surveillance solutions cover all types of market abuse, including derivatives and crypto markets. The solutions are real-time and logic based.

The surveillance solutions are comprised of advanced detection and alert systems. The alert system provides case management and case documentation. The systems cover the requirements of EU market integrity frameworks.

Scila differentiates from its competitors, by providing a surveillance solution with the performance that meets the requirements of an exchange. Because of this, Scila has the dominating position in the Nordic and Baltic surveillance markets.

Scila AB Pros & Cons

Pros	Cons
Exchange‑grade performance – Real‑time detection.	Smaller global presence – Mostly Europe.
Strong MAR/MiFID II alignment – Ideal for EU venues.	Limited enterprise compliance – Basic case management.
Crypto support – Digital‑asset surveillance.	Requires technical setup – Heavy configuration.
Low‑latency analytics – Good for exchanges.	Not ideal for banks – More venue‑focused.

Conclusion

In Conclusion A range of competitive trade surveillance solutions exist, similar to those offered by Solidus Labs. These solutions encompass monitoring and detecting potential market abuses, as well as covering multiple asset classes and providing more advanced and specialized analytics.

This article provides information on the Best Alternatives to Solidus Labs for Trade Surveillance. These solutions are offered by Nasdaq SMARTS, NICE Actimize, Eventus

TradingHub, SteelEye, TRM Labs, Elliptic, and others. These solutions assist financial institutions in meeting their regulatory obligations by ensuring the safe and fair operation of their businesses.

FAQ