Source: Nasdaq OMX
The NASDAQ OMX Group, Inc. (NDAQ) announced the launch of SMARTS Broker market surveillance solution for commodities trading on the London Metals Exchange (LME). The launch includes the go-live of two global broker-dealer customers, including the global multi-asset brokerage Newedge.
The SMARTS Broker surveillance solution gives brokers the ability to monitor, identify and flag trading activity across the three LME trading venues - Select, Phone and Ring. SMARTS Broker has customized its data structure to work with the unique setup of the LME market, facilitating the setting of alert thresholds on a per venue basis, as well as giving broker-dealers the opportunity to generate granular and detailed visualizations of trading data on a per venue basis. Additionally, LME's unique daily prompt date attached to futures and spread contracts has been integrated, thereby enabling the setting of alert thresholds on the basis of specific prompt dates.
SMARTS Broker is now certified to connect to the LME select data drop copy, allowing connectivity to the trading member's order flow and trading executions. The SMARTS Broker service for commodity trading on LME can typically be set-up within a two-week time span.
"NASDAQ OMX is the market leader in delivering global cross market coverage with our SMARTS Broker offering. As commodities continue to become an area where greater compliance and regulatory focus is required, we are dedicated to being ahead of the curve in helping our customers respond to these changing requirements," said Paul McKeown, Vice President of Market Technology, NASDAQ OMX.
Installed in more than 40 national exchanges and regulators, and more than 70 market participants across 55 markets, SMARTS surveillance solutions are helping customers respond to the ever changing regulatory landscape.