The Smarts Integrity Platform is an integrated system that can be installed at exchanges, trading venues and market regulators to monitor orders, trades and quotes to identify market violations including market manipulation and insider trading.
The platform takes a real-time data feed directly from the trading engine of the relevant trading platform, and processes it in real-time, automatically detecting anomalies and producing alerts.
BATS Europe engaged Smarts to install its new Smarts-Multilateral Trading Facility (MTF) version of the Smarts Integrity Platform. The Smarts solution complements and replaces certain aspects of BATS Europe’s existing in-house surveillance capabilities to accommodate the growth of BATS Europe, and provides real-time automated detection of potential breaches of the code of market conduct, alerts managements, order book replay and other analysis tools.
Andreas Furche, CEO of Smarts Group, said: “With its high throughput, pan-European trading platform, BATS Europe presents Smarts with novel challenges. These types of challenges are proficiently addressed with Smarts deep expertise and advanced technology including cross market surveillance capabilities which lead the market in breadth and depth.”
Paul O’Donnell, COO of BATS Europe, said: “BATS Europe is committed to maintaining an orderly and fair market. As the market surveillance technology provider for our US-based sister company BATS Exchange, Smarts has a deep understanding of our business, and thus was the natural choice to provide similar services for us in Europe.”
