Smarts Group, the worldwide leader in market surveillance technology, today announced it had completed the installation of the Smarts Integrity Platform at the North American Derivatives Exchange or Nadex (formerly Hedgestreet).
NADEX is the first regulated, retail-focused futures exchange in the US for online binary options trading and is the second installation for SMARTS in the US.
The NADEX implementation increases the SMARTS Group's footprint in the US market. SMARTS Group is actively pursuing growth of their market surveillance solutions for exchanges and brokers by developing products specifically for the US market.
"With the increased focus on market regulation in the US driven by the Global Financial Crisis, SMARTS market surveillance and compliance solutions provide an extremely attractive regulatory and compliance proposition for US exchanges and stock broking houses," said Dr Andreas Furche, CEO SMARTS Group.
The SMARTS Integrity Platform, which is the most advanced and widely used market surveillance technology, was installed at the NADEX exchange over a three and half month period. The installation incorporates surveillance for binary options and spread contracts. "The NADEX installation illustrates the versatility of the SMARTS Integrity Platform, with the ease of integration of the platform into the unique product mix of NADEX's retail focused derivatives," said Dr Furche.
The SMARTS Integrity Platform is the international financial community's preferred platform of real-time systems for market surveillance, market supervision, and market compliance. The SMARTS Integrity Platform is an integrated market surveillance system that is installed at exchanges to monitor orders, trades and quotes to identify market violations including market manipulation, insider trading and other violations of stock market regulations and legislative requirements.
Mr Yossi Beinart, NADEX CEO, said, "The SMARTS team developed and implemented a suite of advanced real time market surveillance tools which will enhance the integrity and transparency of our exchange."
The implementation has further cemented SMARTS Groups' leadership position in market rket surveillance technology. "We continue to evolve our product offering to adapt to the dynamic character of the global capital markets. SMARTS Group is looking forward to growing our presence in the US market," concluded Dr Furche.