Inspired by
the unknown
GammaRay is a foundation model built on network topology, geometry and manifold learning, first developed through astrophysics research.
Further trained on financial data and fine-tuned for wash-trading analysis, it identifies coordinated activity across accounts, markets and time.
Inside the technologyWash-Trading Detection and Mapping
Identify coordinated account systems behind synthetic volume. Map the trades, counterparties, timing, and relationships that connect them.
02Wash-Trading Volatility Index
Estimate how much observed price volatility is associated with wash-trading activity in a defined market and period.
Look broaderLook closerLook deeper
GammaRay examines trading activity across markets and time, maps individual account groups, and connects recurring accounts across cases. The analysis presents the findings with transaction records, account roles, and market context for review.
Illustrative case view
- Account roles
- Mapped
- Trade direction
- Linked
- Timing window
- Defined
- Group context
- In view
Research and
evidence
Our published research presents market findings and measured detection performance. Each evaluation includes its dataset, observation period, and test conditions.
Select research is available in whole or in part publicly. Restricted research is shared separately under NDA.
Who we
serve
GammaRay supports teams making investment, oversight, and enforcement decisions about suspicious market activity.
Explore the use cases01Regulators
Turn large trading populations into structured candidate cases for human investigation.
Explore regulatory review02Venues and exchanges
Prioritize complex account systems for review using public and private account-side data.
Explore venue surveillance03Investors and funds
Reduce liquidity and market-quality blind spots before capital deployment.
Explore investment diligence04Token issuers
Identify activity that may create reputational or liquidity-program risk.
Explore issuer analysis05Advisory and forensic firms
Add inspectable market evidence to diligence, disputes, investigations, and expert reports.
Explore forensic review