The Nigerian Stock Exchange (NSE), stock market for Africa’s largest economy has launched a market surveillance platform powered by SMARTS, Nasdaq’s flagship surveillance solution.
The technology enables NSE to proactively monitor market manipulation – including spoofing and layering, detect and deter manipulative tendencies, gather intelligence, carry out traders’ monitoring and analysis, conduct multi-asset and cross-market surveillance, and execute risk-based supervision of flagged participants.
“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, NSE’s general counsel and head of regulation.
“The SMARTS technology, which we have successfully deployed, allows our team to proactively analyse patterns and trends to make sense of the vast amounts of data for investigative purposes and protection of investors, while strengthening the integrity of our market.”
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