TRADING VENUES

Nigerian exchange launches Nasdaq-powered market surveillance

Technology will help African exchange to curb market abuse during growth phase.

By John Bakie john.bakie@strategic-i.com July 17, 2017 10:06 AM GMT

Nasdaq's market surveillance technology has been rolled out on the Nigerian Stock Exchange (NSE).

The deal between Nasdaq and NSE will see the SMARTS-powered market surveillance platform utilised across its various markets and asset classes.

NSE said that its grown ambitions require a robust market surveillance solution to monitor market manipulation, gather intelligence, deter manipulative behaviour and execute risk-based supervision.

“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 at NSE.

The deal brings SMARTS availability to a total of 47 marketplaces worldwide.