Market surveillance specialists Smarts Group have signed a contract with Oslo Bors and the OMX exchanges to provide software and support services for market surveillance to all exchanges in the Nordic and Baltic regions.
The deal extends an existing relationship between Smarts, Oslo Bors and the OMX exchanges.
The new agreement aims to enhance market integrity for equities, bonds, options and futures markets across the Norwegian, Swedish, Danish, Finnish, and Icelandic markets. The agreement also extends the service to the Baltic markets of Riga, Tallinn and Vilnius.
Smarts will provide an international shared multi-market alerts services, covering equities and options across all markets, on an outsourced basis.
Sverre Lilleng, Senior Vice President Market Surveillance at Oslo Bors, who introduced SMARTS into Oslo in 1999, and now heads the surveillance Centre in Oslo, says there is close and effective surveillance cooperation between the OMX Exchanges and Oslo Bors.
“Together we hold knowledge and experience of high international standards,” he says. “The new contract cements and extends the relationship between Oslo Bors and Smarts, building on the steps the parties have made together in the Nordic region to introduce automated market surveillance.”
Thomas Jones, a director of Smarts Group, adds that the new contract enhances the position of Smarts as a leading provider of real-time security market surveillance and market control because, by market capitalisation and turnover, the Nordic and Baltic markets together are the fourth largest in Europe.