Who we serve

Market integrity analysis for oversight, trading, and investment decisions.

Why GammaRay?

We scope the review with you, analyze connected trading activity, and deliver findings you can examine.

Scope your review

Start with the question your team needs to answer. We agree the markets, observation period, and available records so the analysis fits your investigation or decision.

Analyze connected accounts

We examine account groups, trading patterns, and recurring participants together. Your team can see how activity connects across the reviewed records.

Examine the evidence

You receive account maps and supporting transactions, including timing, trading values, and participant roles. Coverage and limitations are documented alongside the findings.

Regulators

Market oversight and investigations

Prioritize connected trading activity for investigation

GammaRay helps oversight teams move from a large trading population to specific account groups, transaction sequences, and recurring participants that need examination.

Analysis

Identify groups repeatedly trading among themselves and measure their activity within the reviewed dataset.
Trace accounts that recur across identified cases and define the records needed for follow-up.

Data for the review

Transaction records, accounts, venues, pairs, timestamps, and trading values. Account labels and additional records can add context when available.

What you receive

Account maps, transaction timelines, group-level trading values, and source records for investigator review. Observed relationships are distinguished from ownership and intent.

Discuss your requirements

Venues and exchanges

Trading surveillance and market integrity

Investigate coordinated activity on your venue

GammaRay examines connected trading patterns across accounts so surveillance teams can review the participants and transactions behind suspicious volume.

Analysis

Examine repeated counterparties, reciprocal trading, timing patterns, and concentrated group activity.
Connect recurring participants across cases within the agreed market and observation period.

Data for the review

Available trade records, account identifiers, timestamps, pairs, and values. Order records and venue-specific account context are assessed during scoping.

What you receive

Mapped account groups with supporting trades, participant roles, activity summaries, and case references for internal review and escalation.

Explore detection and mapping Discuss your requirements

Investors and funds

Market-quality and liquidity diligence

Assess the trading activity behind reported volume

GammaRay supports investment diligence by examining whether observed activity is concentrated within identified wash-trading groups and how those groups participate in the market.

Analysis

Measure the trading value attributed to identified groups within a defined sample.
Review recurring accounts, counterparties, and participation over the evaluation period.

Data for the review

The assets, venues, and period relevant to your review, with public transaction data or records you can provide.

What you receive

A scoped market assessment with group-level findings, account maps, and supporting records. Reported coverage makes clear which markets and periods were evaluated.

Read a market evaluation Discuss your requirements

Token issuers

Token activity and liquidity-program reviews

Understand who is participating in your token market

GammaRay examines trading around a token, campaign, or liquidity program to identify synthetic volume and recurring account relationships.

Analysis

Review identified groups, their trading values, and their participation during the period of interest.
Examine activity around campaigns and exchange relationships using the records available for review.

Data for the review

Token and pair identifiers, relevant venues, campaign dates, transaction records, and any account or program context you can share.

What you receive

Account maps and documented trading patterns to support discussions with exchanges, liquidity providers, and internal teams. Findings stay tied to the reviewed records.

Discuss your requirements

Advisory and forensic firms

Diligence, disputes, and investigations

Reconstruct trading relationships for a specific matter

GammaRay provides account-level analysis and source-linked findings for teams investigating suspicious activity or reviewing a market on behalf of a client.

Analysis

Trace transaction sequences, account relationships, and participants recurring across identified groups.
Organize the relevant activity by case, date, venue, and pair for further examination.

Data for the review

The question under review, observation period, transaction records, and relevant account context, subject to agreed access and scope.

What you receive

Account maps, transaction timelines, case references, and supporting records. Data gaps and interpretation limits are recorded for the reviewing team.

Discuss your requirements

What’s your challenge?

Tell us the market, the relevant period, and the data available. We will assess the scope of the analysis with you.