Copenhagen is the latest Nordic stock exchange to take Computershare’s SMARTS as the basis for its market surveillance. The deal strengthens Computershare’s relationship with exchanges around the world, and marks a firm commitment to market surveillance in the NOREX countries. Last month Stockholmborsen adopted SMARTS in an agreement with Oslo Brs. Iceland is now the only NOREX exchange not to have taken up the SMARTS system so far.
“SMARTS alerts authorities to improprieties in trading and helps ensure a fair, orderly and efficient trading market,” said Martyn Drake, general manager of Computershare Technology Services in the UK. “It detects market abuses such as insider trading and price manipulation, in real-time.”
Under agreements signed between the Copenhagen Stock Exchange, Stockholmborsen and Oslo Brs, a centre of market surveillance expertise will be established at Oslo Brs.
The centre will work closely with other exchanges that use Oslo’s obSurveX system, based on Computershare’s SMARTS surveillance system. The centre of expertise will be principally involved in developing alarm systems and production, but will also assist the exchanges with advice and support.
Outside Scandinavia, four exchanges (Hong Kong, Jakarta, Moscow, and Singapore) and three regulatory authorities now use SMARTS worldwide. “SMARTS is a state-of-the-art system. It is rapidly adaptable to different market environments and is in use around the world. No other surveillance system is as widely used and is doing as much to improve the global trading environment,” continued Martyn Drake.
Computershare is the exclusive global marketer of SMARTS, which was developed by SMARTS Proprietary Ltd., an organisation that includes leading Australian academics and IT developers. The SMARTS system identifies abnormal trading behaviour, and provides a range of data analysis and management tools that facilitate a rapid interpretation and response to any abnormal activity.