The U.K.'s Financial Conduct Authority (FCA) has gone live with NASDAQ OMX's SMARTS Integrity market surveillance platform to monitor transaction reports across the U.K.'s markets.
SMARTS Integrity will help the regulator to detect market abuse across financial instruments, including underlying derivatives. The FCA will use the platform to cover current and future European legislation, including Markets in Financial Instruments Regulation (MiFIR) and Market Abuse Regulation (MAR).
"We are committed to providing the FCA with the most powerful surveillance technology in the industry to detect market abuse in a constantly changing marketplace," says Paul McKeown, vice president for Market Technology at NASDAQ OMX.
McKeown says the implementation project went smoothly and met target dates and requirements.
SMARTS surveillance solutions are used by 50 market venues and regulators, plus more than 70 market participants across 55 markets.