NASDAQ OMX Releases its SMARTS FX Surveillance Solution for Compliance Teams

Leading foreign exchange solutions provider NASDAQ OMX Group has launched its SMARTS FX Trade Surveillance used in international FX trading.

The SMARTS module can help regulators and surveillance professionals to track FX products trading for any potential insider trades or front-running, illegal pricing, manipulation of benchmark forex rates, and other suspicious behaviors. The system enables users to track and moderate risks common to the FX market and also enables them to have a whole picture of trades of each individual currency pairs such as Non-Deliverable Forwards, Spot, and Forward.

This helps compliance teams obtain a deeper visualization of the various FX trades based on financial market trends and rate fixes. SMARTS provides users with all information feeds from several market data providers.

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“As the regulatory requirements in the FX market continue to evolve, it has been a challenge for brokers and their compliance teams to identify where to initiate monitoring activity and to focus their resources,” Rob Lang, the Vice President and Global Head of SMARTS, NASDAQ OMX, said in a press release. “Through a co-development initiative with six major FX trading firms, SMARTS has worked to define the behaviors that support the FX surveillance priorities of these industry players, as well as develop a set of now-deployed alerts within the unique data constraints of the FX markets.”

NASDAQ OMX SMARTS solution gathers data on options, equities, energy, commodities, futures and fixed income, which helps compliance professionals to have all the trading data to help them investigate the possibility of market manipulation and abuse. To register for a free 2-week subscription to ForexMinute Premium Plan, visit www.forexminute.com/newsletter.

To contact the reporter of this story; Yashu Gola at yashu@forexminute.com