Nasdaq seeks share of surveillance market
Smarts Trade Surveillance aims to spot trading anomalies
Nasdaq is looking to carve out a share of the surveillance market with its newly launched tool for foreign exchange trading, in response to the growing compliance demands being placed on market participants in the wake of recent fines and investigations.
The US stock exchange operator launched its Smarts Trade Surveillance module for FX in May 2014, in consultation with six of the top-20 banks – based on market share in the middle of 2013 – shortly after allegations of collusion in FX markets
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