The Nigerian Stock Exchange (NSE) on Monday said it has launched a new market surveillance platform that will enable it reduce fraud in the Nigerian market.

Powered by SMARTS, a Nasdaq’s flagship surveillance solution, the platform will allow NSE monitor market manipulation, detect and prevent manipulative tendencies and carry out multi-asset and cross-market surveillance, among others.

“The SMARTS technology, which we have successfully deployed, allows our team to proactively analyze patterns and trends to make sense of the vast amounts of data for investigative purposes and protection of investors, while strengthening the integrity of our market,” said Tinuade Awe, General Counsel and Head of Regulation at NSE.

SMARTS has been the industry’s point of reference for cross-market and cross-asset surveillance for over 22 years. Used by more than 3,500 professionals around the world, SMARTS currently powers 47 marketplaces, 17 regulators and more than 140 market participants across 65 countries.

“Through SMARTS, NSE is leveraging the latest in surveillance technology and demonstrating its commitment to fostering a strong marketplace. We look forward to a long partnership with the NSE as the Nigerian markets evolve,” Tony Sio, Head of Exchange & Regulator Surveillance, Market Technology at Nasdaq said.

Established in 1960, the Nigerian Stock Exchange is the third largest exchange in Africa by market capitalization. As at March 7, 2017, the Lagos bourse has 176 listed companies.

SOURCE: https://brandspurng.com/nse-nasdaq-unveil-new-surveillance-technology-to-monitor-market-operations/

Issorite

Ok o

To avoid loopholes?

Itbhas better work as expected or..........