Smarts Group, the worldwide leader in market surveillance systems today announced it has been selected by the Australian Investment and Securities Commission (ASIC) to install its leading surveillance system Smarts Integrity Platform.
SMARTS, a financial technology company based in Sydney, will install at ASIC its advanced market surveillance system which is able to detect prohibited trading behaviour including market manipulation and insider trading. The company was particularly focused on winning the Australian based contract submitting a fully designed and specified system ready for implementation as part of its tender.
"Understanding the timeframe for the implementation, SMARTS designed and fully specified the system as part of our tender proposal. This allowed us to demonstrate our experience and capabilities, as well as giving us a head start for implementation. Now implementation can start immediately which will assist ASIC to meets its important targets," said Dr Andreas Furche, SMARTS CEO.
The SMARTS Integrity Platform is an integrated system that is installed at exchanges, trading venues and market regulators to monitor orders, trades and quotes, identifying market violations including market manipulation and insider trading. The platform takes a real-time data feed directly from the relevant trading engine, and processes it in real-time, automatically detecting anomalies and producing alerts. "The SMARTS system can monitor multiple exchanges and instruments through one integrated system in real-time enabling detection of suspicious and potentially illegal trading activity," said Dr Furche.