NASDAQ OMX launches SMARTS FX Trade Surveillance

NASDAQ OMX has launched the SMARTS FX Trade Surveillance module which provides surveillance and compliance teams with the ability to monitor trading in FX products for possible manipulation of rate fixes, insider trading/front-running, unusual pricing and other suspect behaviours.

First Published by e-Forex News: July, 2014

NASDAQ OMX has launched the SMARTS FX Trade Surveillance module which provides surveillance and compliance teams with the ability to monitor trading in FX products for possible manipulation of rate fixes, insider trading/front-running, unusual pricing and other suspect behaviours. SMARTS FX provides an over view of all trading in individual currency pairs. This includes Spot, Forward, and Non-Deliverable Forward (NDF) instruments - with forthcoming extensions for FX options. This capability provides compliance professionals with an unprecedented view and deeper understanding of trading activity in the context of market activity and rate fixes.  Moreover, SMARTS enables firms to compare their trading activities against feeds from multiple market data providers as well as their own firms’ quoted spread in a single view, thus eliminating the sole dependency on the content of any single market data provider.

“Through a co-development initiative with six major FX trading firms, SMARTS has worked to define the behaviours 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,” said Rob Lang, Vice President and Global Head of SMARTS, NASDAQ OMX.