FX dealers work with Nasdaq OMX to launch trade monitoring service

System could help regulators in FX fixing probe

Rob Lang, Nasdaq OMX

Major FX dealing banks and Nasdaq OMX have launched a technology-driven trade surveillance service, which could help with monitoring activity in currency markets and allow regulators to track down suspicious deals in the ongoing FX fixing investigation.

The Nasdaq OMX Smarts system could also be used for evidence gathering in the global regulatory probe into the WM/Reuters benchmark. The main priority for the six first-tier banks collaborating on the project is to make fixing-related trading

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