Nasdaq Extends Smarts to Buy Side Through Sterling Partnership

Smarts Broker, traditionally a sell-side product, will allow buy-side firms to monitor trading activity for abusive and fraudulent behavior. This includes areas such as spoofing and layering, where order prices are artificially affected through multiple trades being placed and cancelled, through to insider trading. The platform covers automated and high-frequency trading strategies for market abuse, order handling errors and other areas in addition to the above.

"Speed-to-market and Smarts Broker's cross-market functionality were very important in our decision to partner with Nasdaq OMX," says Stephen Sierszulski, CEO at Sterling Trader. "There is strong demand from our buy-side customers for a surveillance solution that's quick-to-market and one which robustly monitors trading activity for better transparency. We're proud to be able to offer Smarts Broker to these customers, and foresee great demand as they look to further strengthen their surveillance responsibilities and keep pace with existing and future regulatory demands."