FSA Keeps Tabs on Market Abuse with NASDAQ OMX Surveillance System
The NASDAQ OMX Group, and the Financial Services Authority (FSA), an independent body that regulates the financial services industry in the United Kingdom (UK), today announced that the FSA has selected NASDAQ OMX's SMARTS Integrity market surveillance system to further enhance the FSA's monitoring of transaction reports across the UK's financial markets.
SMARTS Integrity will provide the FSA with a surveillance platform for the detection of market abuse across financial instruments admitted to trading on regulated or prescribed markets including any underlying derivatives. SMARTS Integrity will also afford the FSA with a platform that is scalable and extensible to meet future European legislation such as the Markets in Financial Instruments Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (MiFIR) and Market Abuse Regulation (MAR).
Paul McKeown, Vice President, Market Technology at NASDAQ OMX, said: "We are thrilled to be supporting the FSA in their regulatory endeavors. This new partnership marks an important achievement for our SMARTS Integrity product in the European marketplace, with more than 55 percent of all European equity trading now being monitored through our software. As regulatory issues and requirements continue to evolve around the world, we look forward to working with other regulators like the FSA to investigate market abuse through our best-in-class systems for market surveillance."
The NASDAQ OMX Group, and the Financial Services Authority (FSA), an independent body that regulates the financial services industry in the United Kingdom (UK), today announced that the FSA has selected NASDAQ OMX's SMARTS Integrity market surveillance system to further enhance the FSA's monitoring of transaction reports across the UK's financial markets.
SMARTS Integrity will provide the FSA with a surveillance platform for the detection of market abuse across financial instruments admitted to trading on regulated or prescribed markets including any underlying derivatives. SMARTS Integrity will also afford the FSA with a platform that is scalable and extensible to meet future European legislation such as the Markets in Financial Instruments Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term (MiFIR) and Market Abuse Regulation (MAR).
Paul McKeown, Vice President, Market Technology at NASDAQ OMX, said: "We are thrilled to be supporting the FSA in their regulatory endeavors. This new partnership marks an important achievement for our SMARTS Integrity product in the European marketplace, with more than 55 percent of all European equity trading now being monitored through our software. As regulatory issues and requirements continue to evolve around the world, we look forward to working with other regulators like the FSA to investigate market abuse through our best-in-class systems for market surveillance."