LATAM-Based Bolsa Mexicana de Valores Selects Nasdaq for Market Surveillance

Mexico’s main cash and derivatives trading venue is developing its market surveillance system through the deployment of Nasdaq’s technology. The

free-vector-bolsa-mexicana-de-valores_087468_bolsa-mexicana-de-valoresMexican financial trading exchange, the Bolsa Mexicana de Valores, (BMV), has reported that it will be licensing technology from Nasdaq to support its compliance and regulatory practises. Under the terms the exchange will leverage SMARTS, the industry-leading market surveillance platform offered by Nasdaq. The move highlights the exchange’s vision of providing industry standard solutions to global traders.

The exchange outlined details of the co-operation in a statement where the BMV will migrate its current real-time proprietary surveillance system to SMARTS for real-time capital market monitoring. The new system will enhance the current functions used by compliance and legal teams at the venue.

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“The SMARTS solution fortifies the capacities of reviewing operations that are traded in our market, enhancing Bolsa’s abilities for detecting patterns of behaviour internationally recognized as contrary to good market practices,” said Pedro Díez, Market Surveillance Director, Bolsa Mexicana de Valores, in the press release. Adding, “With the adoption of this technology and according to its strategic lines, Bolsa remains at the forefront in terms of the services offered to the general public, fortifying transparency, ethics and safety with the support of a world-class system.”

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The exchange has been using the VIGA market surveillance system which allows it to assess real-time market date and trading activity. However, with the current upgrade, the role of surveillance at the exchange is strengthened, with new international standards built into all of the monitoring processes, allowing for seamless consolidation of supervisory duties and making these duties more efficient and effective across the board.

Lars Ottersgård, Executive Vice President and Head of Market Technology, Nasdaq, commented in a statement: “Supporting Bolsa Mexicana de Valores is an opportunity that Nasdaq is very proud to have been given.

One of the most important responsibilities an exchange has is maintaining a fair, open and transparent market that is highly monitored and operated on integrity. We look forward to working with Bolsa Mexicana de Valores as they continue to execute on these principles and strengthen their market surveillance efforts.”

Mexico’s trading bourse has been enhancing its position as a global provider since 2001; over the last fourteen years the venue has been implementing new strategic measures that support its growth and development. In its last annual report it stated : “The consistent and orderly application of these guidelines continues to strengthen and further the Exchange’s mission, which is primarily to provide the most modern infrastructure possible for the transactions the market requires, and expanding mechanisms and alternatives needed by issuers, brokers and investors.”

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