The Australian Securities and Investments Commission (ASIC), Australia’s securities regulator, has chosen technology firm SMARTS’ Integrity Platform surveillance system to help it detect abusive trading practices.
SMARTS Integrity Platform is an integrated system installed at exchanges, trading venues and market regulators to monitor orders, trades and quotes. It is designed to identify prohibited trading activity including market manipulation and insider trading. The platform takes a real-time data feed directly from the relevant trading engine and processes it in real-time, automatically detecting anomalies and producing alerts.
“We believe that SMARTS’ global expertise and advanced technology solution, combined with our Australian home base and intimate understanding of Australia’s capital markets, enabled us to prevail as the preferred surveillance partner to deliver ASIC’s market surveillance system within the rapid time frame required,” said Dr Andreas Furche, CEO of SMARTS, in a statement.
ASIC is expected to assume responsibility for supervising trading behaviour in Australia from the Australian Securities Exchange, the country’s national bourse, in the third quarter of 2010.
SMARTS’ surveillance systems are currently employed at more than 30 national exchanges and regulators in over 30 countries.