Smarts reports TLX contract
21 January 2008 | 1929 views | 0
Source: Smarts Group
Smarts Group, the world leader in real-time market surveillance and operational control for exchanges, regulators and brokers, is pleased to announce an agreement to provide TLX S.p.A (TLX) with a new market control and supervision platform in order to support the integrity of TLX's expanding market offering.
Following a rigorous and systematic evaluation process, TLX has selected SMARTS Integrity Platform as their platform for market control and supervision.
The solution will be delivered as a fully hosted real-time managed service, called SMARTSOnline, where all surveillance technology, software and alert design is outsourced to the Smarts Group.
The project will see Smarts Group working closely with its strategic partner OMX, who are TLX's ITS operators for the CLICK trading platform. The project incorporates design, hardware, networking, software licenses, delivery and further enhanced ITS operations by both Smarts Group and OMX.
Alessandro Zignani, General Manager of TLX, said "The new surveillance system will provide firm foundations to support the further substantial extension of our trading services and opportunities presented by MiFID. Our selection of the SMARTS solution forms a key part of TLX's strategy to improve our technical infrastructure to meet the challenges ahead, utilising the best available market monitoring technology."
Andy Green, Branch Manager for OMX in Italy, said "The TLX project demonstrates the continued strong partnership of the combined SMARTS-OMX solution - OMX for trading and Smarts Group for surveillance. We look forward to working with Smarts Group again on this exciting project."
Mr Magnus Almqvist, General Manager of Smarts Group Europe, said: "We warmly welcome TLX into the SMARTS community and their commitment to the SMARTS product. By choosing SMARTS Integrity Platform, TLX will become part of a global community of over 30 exchanges and regulators. For an exchange in a cross-market cross-border world, our system offers a standard which will facilitate information sharing at a technological level, for both real-time and T+1 surveillance and for data-mining and marketing. Also, we are very pleased to be working with OMX again in delivering the solution. This project benefits from our new approach of continuing to deliver our technology as part of a managed service, which allows the customer to focus on their business while leaving the technology and operations to Smarts Group and OMX."