SMARTS Group, a provider of market surveillance tools, has completed the rollout of its SMARTS Integrity platform at pan-European multilateral trading facility BATS Europe.
SMARTS Integrity is an integrated system that is installed at exchanges, trading venues and market regulators to monitor orders, trades and quotes to identify market violations, including market manipulation and insider trading. The platform takes a real-time data feed directly from the trading engine of the relevant venue and processes it in real time, automatically detecting anomalies and producing alerts.
The SMARTS solution is designed to complement and replace certain elements of BATS Europe’s existing in-house surveillance capabilities to help it manage the rapid growth of BATS Europe.
The system will provide real-time automated detection of potential breaches of BATS’ code of market conduct, alerts managements, order book replay and other analysis tools.
SMARTS Integrity Platform was installed by BATS Europe’s stablemate, US equities bourse BATS Exchange, in 2009.
“With its high throughput, pan-European trading platform, BATS Europe presents SMARTS with novel challenges. These types of challenges are proficiently addressed with SMARTS deep expertise and advanced technology including cross market surveillance capabilities which lead the market in breadth and depth,” said SMARTS Group CEO Dr Andreas Furche in a statement.
BATS Europe chief operating officer Paul O’Donnell added, “As the market surveillance technology provider for our US-based sister company BATS Exchange, SMARTS has a deep understanding of our business, and thus was the natural choice to provide similar services for us in Europe.”