Monitoring and Surveillance Systems for Financial Markets: A Service System Perspective

Financial markets are primarily driven by three key drivers, technologies, competition and globalization. These drivers are accompanied with challenging risks. Market authorities monitor activities in order to reduce to the barest minimum the adverse impacts some products and services have on the whole financial system. This indicates the need for a high quality monitoring and surveillance system. This paper examines financial markets as service systems that jointly create value to stakeholders. It proposes a framework for the design of financial market monitoring system based on the concept of service dominant logic, service science and systems thinking. Finally, it identifies a number of properties that need to be examined in financial markets service systems.