Nasdaq publishes the service criteria for SMARTS technology! Cryptocurrency exchanges expand to 7 companies
NASDAQ's Tech Provision for Virtual Currency Exchanges Expands
The stock market NASDAQ has revealed that it provides its own market surveillance technology to seven virtual currency exchanges.
It has also disclosed details of the screening process used to assess the exchanges’ reliability and trustworthiness, drawing attention to the criteria used.
NASDAQ's Technology Provision Judgment Criteria
Regarding the newly announced criteria for providing technology, Tony Sio, Director of NASDAQ's Trading and Audit division, described them as the criteria to use when offering market surveillance technology, and said the following.
Historically, our clients were mostly well-known companies, so extensive screening processes weren't necessary.
However, as we have partnered with startups, the need for established verification processes became clear.
We see cryptocurrencies as a growing asset class, which is why we are now involved in areas such as providing technology to cryptocurrencies.
So that our clients (crypto exchanges) can grow the market through matching and surveillance, we are providing our SMARTS technology.
Quote: COINPOST
From these remarks, it is clear that NASDAQ views cryptocurrencies as a growing asset class in the future.
And, in anticipation of expanding the crypto market, NASDAQ has disclosed that it provides SMARTS technology.
What is SMARTS Technology
SMARTS technology is NASDAQ's proprietary market surveillance technology developed to monitor fraudulent trading patterns, used by major exchanges, brokers, and regulators to monitor trades and detect potential market manipulation.
Since 2018, the number of companies publicly using SMARTS has increased by two, bringing the total to seven.
Companies already employing SMARTS include SBI Virtual Currencies in Japan, as well as world-leading exchanges such as ICE (Intercontinental Exchange) in Atlanta and HKEx in Hong Kong.
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