NSE to monitor market operations with Nasdaq’s surveillance technology

17 Jul 2017
Financial Nigeria


The platform will amongst other functions allow NSE to monitor market manipulation (including spoofing and layering) and detect and deter manipulative tendencies.

CEO, Nigerian Stock Exchange, Oscar Onyema

The Nigerian Stock Exchange has announced that it has launched a new market surveillance platform powered by SMARTS, Nasdaq's flagship surveillance solution, according to a statement released on Monday.

The Lagos bourse said the new platform will allow it monitor market manipulation (including 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 SMARTS technology, which we have successfully deployed, allows our team to proactively analyze 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,” said Tinuade Awe, General Counsel and Head of Regulation at NSE.

Nasdaq SMARTS Surveillance solutions have been the industry benchmark for real-time, cross-market, cross-asset surveillance for over 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.

“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.”

Founded in 1960, NSE is the premier stock exchange in Nigeria. The bourse has over 170 listed securities with a market capitalization of N11.464 trillion as of July 14, 2017.

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