Waters Rankings 2021: Best market surveillance provider: Nasdaq

Product: Nasdaq SMARTS

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“Our goal is to keep markets safe and to bring integrity to the capital markets ecosystem and beyond. If we, through our expertise and technology capabilities, can help our clients to better detect, investigate and manage potential manipulation scenarios and uncover more instances of market abuse, then we have done our job.”
Michael O’Brien, head of product management, Nasdaq Trade Surveillance  

WHY THEY WON

Judging by how dominant Nasdaq has been in this category, it’s clear that when it comes to market surveillance, SMARTS has become synonymous with market surveillance among our voters. 

WHAT’S NEW

Nasdaq Trade Surveillance has added new markets and data feeds, bringing current coverage up to 208 markets, including equities, futures and options, commodities, FX, precious metals, fixed income, dark pools, energy, and more.

The exchange has deployed dynamic APIs to Trade Surveillance to support exploration of targeted data sets for further analysis and application in broader compliance activities.

Nasdaq Market Surveillance has released a SaaS offering, allowing clients the option of a SaaS, on-premise, or hybrid model.

The company acquired Verafin in January of 2021 to further support clients in their Anti-Financial Crime efforts.

WHAT’S TO COME 

Nasdaq will implement AI for broader market surveillance monitoring for external clients and R&D into future detection models.

The exchange operator is planning to release a new HTML-based user interface, which includes advanced Alert Analytics as well as a fully configurable view of Alerts to drive more efficient processing and escalation.

Lastly, users can expect related products monitoring to include OTC/physical markets vs. related futures for aiding in detection of sophisticated market abuse over related securities.

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