Source: Smarts Group
Abu Dhabi Securities Market (ADSM) announced today that it has adopted SMARTS' advanced version for use of its electronic surveillance technology and services after the success of the old version 'SMARTS' adopted in the end of 2005.
Mr. Rashed Al Baloushi, Acting Director General of ADSM, said: 'Abu Dhabi Securities Market has always emphasized in investment in technology and the adoption of latest IT systems and programs in order to maintain the integrity of market trading.
He continued: "We are introducing SMARTS' advanced version as part of our ongoing strategy to implement international best practices. The market sent some of its surveillance staff on external courses to the supplier and one of the developed stock exchanges to gain experience in using the system."
The updated version of 'SMARTS system has many advantages that increase the efficiency of market control process and enable ADSM staff monitor trading in real time and identify prohibited action immediately. It will also provide accurate and reliable set of information in the form of reports and charts. Additionally the system is linked to the market databases of disclosure and companies news.
Mr. Rashid Al Baloushi concluded his statement by assuring the continuity of enhancing ADSM services, and the base of present and future plans on the principle of transparency and disclosure, which shows ADSM commitment to general political agenda of Abu Dhabi emirate and in order to protect the traders.