xSurveillance: CAT/MiFIR Trade Surveillance Data Protection

The Problem

Consolidated Audit Trail (CAT) and MiFIR surveillance requirements force market participants to report detailed trade data to central repositories, creating massive honeypot targets.

CAT collects billions of trade events containing customer PII, order flow, and trading strategies. A breach exposes the entire market's activity. The 2024 CAT NMS data breach demonstrated this risk.

MiFIR transaction reporting requires similar centralization in EU markets. Both create single points of failure that are high-value targets for nation-state actors and financial criminals.

The Old Way

The PRIVATE.ME Solution

xSurveillance splits surveillance data into XorIDA shares distributed across independent custodians. Regulatory verification requires threshold reconstruction, preventing single-point breaches.

Trade reports are HMAC-signed at submission, then XorIDA-split across independent storage nodes. Regulators query by reconstructing specific records via threshold quorum. Bulk data never exists in one place.

Real-time surveillance analytics run on shares via xCompute for pattern detection. Suspicious activity triggers targeted reconstruction only for flagged records.

The New Way

How It Works

xSurveillance provides split-storage for surveillance data with threshold-based regulatory access and xCompute-powered real-time analytics on shares.

Use Cases

Integration

import { SurveillanceVault } from '@private.me/xsurveillance';

const vault = await SurveillanceVault.create({
  custodians: [custA, custB, custC],
  threshold: { k: 2, n: 3 }
});
await vault.submit(tradeReport);

Security Properties

Verifiable Data Protection

Every operation in this ACI produces a verifiable audit trail via xProve. HMAC-chained integrity proofs let auditors confirm that data was split, stored, and reconstructed correctly — without accessing the data itself.

Ready to deploy xSurveillance?

Talk to Sol, our AI sales engineer, or book a live demo with our team.

Ship Proofs, Not Source

xSurveillance generates cryptographic proofs of correct execution without exposing proprietary algorithms. Verify integrity using zero-knowledge proofs — no source code required.

Use Cases