SMARTS Group, the worldwide leader in market surveillance systems today announced it has been selected by the Australian Investment and Securities Commission (ASIC) to install its leading surveillance system SMARTS Integrity Platform.
SMARTS, a financial technology company based in Sydney, will install at ASIC its advanced market surveillance system which is able to detect prohibited trading behaviour including market manipulation and insider trading. The company was particularly focused on winning the Australian based contract submitting a fully designed and specified system ready for implementation as part of its tender.
“Understanding the timeframe for the implementation, SMARTS designed and fully specified the system as part of our tender proposal. This allowed us to demonstrate our experience and capabilities, as well as giving us a head start for implementation. Now implementation can start immediately which will assist ASIC to meets its important targets,” said Dr Andreas Furche, SMARTS CEO.
The SMARTS Integrity Platform is an integrated system that is installed at exchanges, trading venues and market regulators to monitor orders, trades and quotes, identifying market violations including market manipulation and insider trading. The platform takes a real-time data feed directly from the relevant trading engine, and processes it in real-time, automatically detecting anomalies and producing alerts. “The SMARTS system can monitor multiple exchanges and instruments through one integrated system in real-time enabling detection of suspicious and potentially illegal trading activity,” said Dr Furche.
SMARTS is the global leader in market surveillance systems which delivers its surveillance solutions to over 30 national exchange and regulator customers across more than 30 countries. “We believe that SMARTS’ global expertise and advanced technology solution, combined with our Australian home base and intimate understanding of Australia’s capital markets, enabled us to prevail as the preferred surveillance partner to deliver ASIC’s market surveillance system within the rapid time frame required,” continued Dr Furche, SMARTS CEO.
SMARTS was selected as the top NSW exporter receiving the 2009 Premier’s Exporter of the Year Award, and going on to win Australia’s 2009 technology exporter of the year at the 2009 Prime Minister’s Exporter of the Year Awards. SMARTS was recognised through these awards for its unrivalled market leadership in capital market monitoring and surveillance. “While we are always pleased to win business we are particularly delighted in this business as it is in our home country,” concluded Dr Furche.