LME Takes on Smarts Broker For Surveillance

Smarts Broker 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 for LME, 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 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 certified to connect to the LME select data drop copy, allowing connectivity to the trading member's order flow and trading executions. The service can typically be set-up within a two-week time span, according to the exchange.

"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," says Paul McKeown, VP of market technology at NASDAQ OMX.