OMX, the leading expert in the exchange industry, and Smarts Group (SMARTS), the world leader in real-time market surveillance, have formed a sales and development partnership for providing SMARTS' market surveillance solutions to OMX's customers.
Under the agreement SMARTS' market surveillance solutions will be available as part of OMX's exchange technologies offering. The solutions enable exchanges and regulators to handle market surveillance, market supervision, compliance and other regulatory aspects in real-time.
OMX and SMARTS will also cooperate to develop a single connectivity solution between SMARTS and OMX technologies. This ensures fast and secure systems interaction and enables delivery of fully integrated trading and surveillance platforms. The solution will be part of GENIUM, the new technologies for trading, post trade and information services from OMX.
"In a position where exchanges all over the world are experiencing a rapid growth of the amount of trades, the demand for efficient and fast systems for market surveillance is more critical than ever. By combining our respective strengths we will be able to offer market leading solutions that enables both exchanges and regulators to be one step ahead of the development," says Anders Fridlund, Head of Products, Market Technology, OMX.
"We are delighted with the decision of OMX to extend their partnership with Smarts Group and commitment to the SMARTS product. The initiative ensures easy access for any existing or prospective OMX customer to our SMARTS integrity platform. The single connectivity solution between SMARTS and OMX platforms helps reduce system implementation times and keeps down maintenance costs. Overall, this is an exciting prospect which will further strengthen both OMX's and SMARTS' presence in the market by offering leading solutions to our ever increasing joint customer base," says Magnus Almqvist, General Manager for Smarts Group in Europe.