NSE Goes Live on Nasdaq SMARTS Platform to Monitor Fraud

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By Modupe Gbadeyanka

​As part of efforts to proactively monitor market manipulation, the Nigerian Stock Exchange (NSE) has announced going live on the new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution.

The platform will enable the stock market regulator monitor spoofing and layering, detect and deter manipulative tendencies, gather intelligence, carry out traders’ monitoring and analysis, conduct multi-asset and cross-market surveillance, and execute risk-based supervision of flagged participants.

The Nasdaq SMARTS Surveillance solutions have been the industry benchmark for real-time, cross-market, cross-asset surveillance for 22+ years.

Used by over 3,500 compliance professionals around the world, SMARTS currently powers surveillance at 47 marketplaces, 17 regulators and 140+ market participants across 65 countries.

In a statement issued on Monday, the NSE pointed out that, “As we enter the growth phase of the development of our market, including the introduction of new asset classes such as derivatives, there will be the imperative of processing significant volumes of market information in real-time to detect anomalies.”

It quoted the General Counsel and Head of Regulation at the NSE, Tinuade Awe, as saying that, “The SMARTS technology, which we have successfully deployed, allows our team to proactively analyse patterns and trends to make sense of the vast amounts of data for investigative purposes and protection of investors, while strengthening the integrity of our market.”

“Through SMARTS, NSE is leveraging the latest in surveillance technology and demonstrating its commitment to fostering a strong marketplace,” said Tony Sio, Head of Exchange & Regulator Surveillance, Market Technology at Nasdaq.

“SMARTS performs universal surveillance of all asset classes and provides a strong platform for NSE to develop new products such as derivatives. We look forward to a long partnership with the NSE as the Nigerian markets​ evolve,” Sio added.

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