The technology will, amongst other things, enable NSE to proactively 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.
“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,” said Tinuade Awe, General Counsel and Head of Regulation, NSE. “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.”
“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.”
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.