NAN-HE-10
Platform
By Chinyere Joel-Nwokeoma
Lagos, July 17, 2017 (NAN) The Nigerian Stock Exchange (NSE) has launched a new market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution.
The NSE said in a statement in Lagos on Monday that the technology would, amongst other things, enable It to proactively monitor market manipulation (including spoofing and layering), detect and deter manipulative tendencies.
It said that the platform would also enable the NSE to gather intelligence, carry out traders’ monitoring and analysis, conduct multi-asset and cross-market surveillance and execute risk-based supervision of flagged participants.
Ms Tinuade Awe, the NSE General Counsel and Head of Regulation, was quoted by the statement as saying that the platform would aid in processing significant volume of market information in real-time to detect anomalies.
“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,” Awe said.
Mr Tony Sio, Nasdaq Head of Exchange & Regulator Surveillance, Market Technology, said that the SMARTS technology would enable both teams to analyse patterns and trends to make sense of the vast amounts of data for investigative purposes.
Sio said that the technology, which had been successfully deployed, would strengthen market integrity as well protect investors.
He said that NSE was leveraging on the latest technology and demonstrating commitment to foster a strong marketplace through SMARTS.
“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”, he said.
The statement said that Nasdaq SMARTS Surveillance solutions had been the industry benchmark for real-time, cross-market, cross-asset surveillance for more than 22 years.
It added that it was being used by over 3,500 compliance professionals around the world, currently powers surveillance at 47 marketplaces, 17 regulators and over 140 market participants across 65 countries. (NAN)
JNC/TA
Edited by Tajudeen Atitebi