A Palantír or "Seeing Stone" is a crystal ball, used for both communication and as a means of seeing events in other parts of the world in.. you guessed it Lord of the Rings! The real life Palantir, that uses data-driven behavioural analysis to spot rogue traders, has created a 50:50 JV called Signac with Credit Suisse.
The venture will track traders’ activities and try to identify aberrations both from their own norms and from those of their colleagues. Credit Suisse said the UBS and SocGen trading scandals shared factors, which they called “toxic combinations”, including trading in internal accounts and a large number of “cancel and correct” trades. The new product will analyse those outliers and marry the data on them with behaviour analysis, such as cell phone usage and door key-card swipes.