Nasdaq's SMARTS Launches Trade Surveillance Monitoring for Dark Pools
(Thomson Reuters ONE) -
New Capabilities Brings Transparency to Dark Trading Activity
NEW YORK, Oct. 8, 2015 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ), the world's
leading provider of trade surveillance technology to marketplaces, regulators
and market participants, has officially launched new trade surveillance
monitoring capabilities for dark trading activity alongside its award-winning
SMARTS Trade Surveillance platform.
"Trade surveillance can no longer be limited to lit trading," said Rob Lang,
Vice President, Business and Product Development, Risk & Surveillance Solutions,
Nasdaq. "Regulators globally are taking a more active role in monitoring and
enforcing greater transparency in the trading of listed instruments away from
lit venues generally, and of trading behaviors within dark pools specifically.
We see the need to address these new demands and support dark venue operators
and those executing in the dark to boost their surveillance capabilities and
help them stay in compliance."
The new module, SMARTS Surveillance for Dark Pools, helps Multilateral Trading
Facilities (MTF), Alternative Trading Systems (ATS), Crossing Networks, and
market participants internalizing order flow or trading in external dark venues
to monitor for potentially abusive behavior taking place in the dark.
Jurisdictions such as Hong Kong, Australia and Europe, amongst others, have
already passed regulatory mandates in relation to dark trading. SMARTS
Surveillance for Dark Pools will better position dark venue operators and
participants to more effectively meet requirements and demonstrate a proactive
approach to surveillance of dark trading.
* For dark venue operators, like MTFs and ATSs, these capabilities will enable
them to monitor trading across all of their clients, like an exchange, to
ensure market integrity. Using SMARTS, venue operators that also own broker-
dealers would also be able to demonstrate that internal desks are not
trading ahead of client orders on knowledge, further improving the integrity
of the pool.
* For Crossing Networks or Systemic Internalization, the solution helps
demonstrate system integrity in that the liquidity pool operates as
advertised, in addition to helping identify potentially malicious behavior
that is hidden in the network or any mispricing or fair pricing issues for
trades that executed internally.
* For executing brokers, SMARTS Surveillance for Dark Pools enables firms the
same cross-market, cross-asset monitoring and alerting capabilities as have
proven successful in lit markets, with the ability to view dark executions
within the full context of all of the markets traded.
SMARTS Surveillance for Dark Pools covers the full range of market manipulation
and abuse behaviors from price manipulation to insider trading, front running,
and cross-market (lit vs dark) manipulation, amongst others.
"In order to ensure integrity and compliance, dark venue operators and
participants internalizing or crossing order flow, or externally participating
in dark venues, need to have processes and systems in place to monitor activity
for manipulative trading," said Michael O'Brien, Head of Product Development,
SMARTS Trade Surveillance. "Not only does this support regulatory compliance
needs, it is simply good business practice, particularly in a quickly evolving
marketplace like dark pools."
SMARTS Surveillance solutions power monitoring capabilities for more than 100
market participants across 65 markets, and over 50 marketplaces and regulators.
For more information, visit business.nasdaq.com/tech.
About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange
technology, listing, information and public company services across six
continents. Through its diverse portfolio of solutions, Nasdaq enables customers
to plan, optimize and execute their business vision with confidence, using
proven technologies that provide transparency and insight for navigating today's
global capital markets. As the creator of the world's first electronic stock
market, its technology powers more than 70 marketplaces in 50 countries, and 1
in 10 of the world's securities transactions. Nasdaq is home to more than 3,600
listed companies with a market value of approximately $9.6 trillion and more
than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or
business.nasdaq.com.
NDAQG
CONTACT: For Media Inquiries:
Nasdaq:
Ryan Wells
ryan.wells(at)nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
This announcement is distributed by GlobeNewswire on behalf of
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Source: Nasdaq via GlobeNewswire
[HUG#1957615]
Unternehmensinformation / Kurzprofil:
Datum: 08.10.2015 - 13:01 Uhr
Sprache: Deutsch
News-ID 425763
Anzahl Zeichen: 5651
contact information:
Town:
New York
Kategorie:
Business News
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