BM&FBovespa and BSM select Nasdq OMX Smarts for market surveillance

Source: Nasdq OMX Group

The Nasdq OMX Group (Nasdaq:NDAQ), BM&FBovespa, the largest stock exchange in Latin America, and Bovespa Market Supervision (BSM), the Brazilian self-regulatory organization in charge of inspecting and supervising the transactions and the persons authorized to trade, today announced that they will use Nasdaq OMX's Smarts Integrity market surveillance platform to monitor trading across their equities and commodities platforms.

The SMARTS Integrity platform will provide BM&FBOVESPA and BSM with an automated solution for market surveillance, operations and market oversight, strengthening their current surveillance capabilities and providing them a scalable platform for long-term growth. Using SMARTS Integrity, BM&FBOVESPA and BSM will have a comprehensive portfolio of alerting scenarios for market behaviors. As BM&FBOVESPA grows its business, SMARTS Integrity will enhance the exchange and BSM's ability to maintain a compliant and orderly market. SMARTS Integrity already handles the volumes of the largest markets in the world and will be mission-critical to BM&FBOVESPA's future growth plans.

"BM&FBOVESPA is committed to maintaining the highest level of market integrity and an operating framework that inspires confidence amongst participants. SMARTS Integrity's cross-market surveillance platform will allow us to monitor our markets effectively and efficiently, with the scalability to process increased volumes as we expand," said Cicero Vieira, Chief Operating Officer of BM&FBOVESPA. "The combination of proven functionality, reliable performance and NASDAQ OMX's global technology expertise make SMARTS Integrity an optimal platform to help us achieve our goals."

"Since the second half of 2009, when BSM implemented the automated analysis of all trades containing warnings on transactions with evidence of violation, there has been greater efficiency in the analysis conducted by the BSM staff, who now focuses exclusively on trades that show strong signs of irregularity. With the implementation of the SMARTS Integrity platform, we expect to gain in efficiency and assertiveness, continuing the process of improvement," said Luis Gustavo da Matta Machado, Chief Regulatory Officer of BSM. "SMARTS can bring more tools for the accomplishment of our self-regulation activities."

"As one of the largest markets in the world, we see BM&FBOVESPA as a leader in promotion of compliance standards and market integrity in Latin America. We are thrilled to be partners in improving the efficiency and transparency of the global marketplace and look forward to growing our relationship," said Anna Ewing, Chief Information Officer of NASDAQ OMX. "Powering trading, surveillance and risk management solutions for the full range of market participants, NASDAQ OMX aims to help ensure fair markets across the globe."

The BM&FBOVESPA and BSM implementation of SMARTS Integrity will be the first in Latin American markets. The parties continue to explore opportunities where they can leverage synergies to further expand their partnership. 

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