The NASDAQ OMX Group, Inc.: NASDAQ OMX to Provide SMARTS Integrity Market Surveillance Platform to trueEX Group
Ticker | Giełda | ISIC | Kraj | Miasto |
---|---|---|---|---|
NDAQ | XNAS | U.S.A. | New York |
NEW YORK, July 29, 2014 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc.
(Nasdaq:NDAQ) and trueEX Group LLC, a Commodity Futures Trading Commission
(CFTC)-regulated exchange for interest rate swaps, have announced a five-year
partnership during which NASDAQ OMX will provide the SMARTS Integrity market
surveillance platform to trueEX. The solution is now live and monitors both
trueEX's Designated Contract Market (DCM) and its Swap Execution Facility (SEF).
"We're pleased to partner with a market-leader such as trueEX, as we look to
assist exchanges to become safer and more transparent for market players across
the globe. Our platform is a natural choice for trading platforms and regulators
looking to safely optimize trading activity," said Rob Lang, Vice President and
Global Head of SMARTS, NASDAQ OMX.
The SMARTS Integrity technology provides trueEX with analytical capabilities
that will monitor trading for potential market manipulations as well as provide
analytical capabilities and reporting through the SMARTS new SQL interface. As
implementation of Dodd-Frank places obligations on SEFs to have a surveillance
program in place, SMARTS Integrity will enable trueEX to bring the program in-
house and realize cost savings against a fully-outsourced approach.
"We are excited to deploy the NASDAQ SMARTS product at trueEX, as it will
revolutionize the way we conduct surveillance, reporting and data analysis,"
said Karen O'Connor, Chief Operating Officer, trueEX. "This announcement builds
on an existing, strong relationship with NASDAQ and is a great complement to an
already strong service offering."
trueEX offers market participants the dual benefit of automated execution and
clearing in an electronic, CFTC-regulated, DCM exchange in addition to their SEF
platform. To date, trueEX has processed more than $1.5 trillion notional in
allocations, terminations, offsets, and blended compressions.
SMARTS surveillance solutions operate in more than 50 trading venues and
regulators, and more than 90 market participants across 65 markets. SMARTS
Integrity will serve as a vital market supervision and control tool.
About NASDAQ OMX Group
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology,
information and public company services across six continents. Through its
diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize
and execute their business vision with confidence, using proven technologies
that provide transparency and insight for navigating today's global capital
markets. As the creator of the world's first electronic stock market, its
technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the
world's securities transactions. NASDAQ OMX is home to more than 3,300 listed
companies with a market value of over $8 trillion and more than 10,000 corporate
clients. To learn more, visit www.nasdaqomx.com.
About trueEX
trueEX is an electronic, CFTC-regulated, exchange and swap execution facility
(SEF) for interest rate swaps. The company's mission is to deliver the most
innovative solutions, while providing connections to multiple clearing houses
and an open access business model. trueEX offers market participants the dual
benefits of automated execution and clearing in an electronic, CFTC-regulated,
DCM (Designated Contract Market) exchange without disrupting the fundamental
structure of the interest rate swap markets. The combination of domain
expertise, next-generation technology, and innovative trading solutions enables
trueEX to provide pre-trade certainty of execution and clearing, trade
anonymity, pre-trade and post-trade transparency, as well as low cost execution
for the interest rate swaps market. To learn more,
visit https://www.trueex.com/index.
NDAQG
CONTACT:
Media Relations Contacts:
NASDAQ OMX
Ryan Wells
+1 (212) 231-5541 (office)
+1 (646) 581-4286 (mobile)
Ryan.wells@nasdaqomx.com
trueEX Group LLC
P.J. Kinsella
+1 (646) 558-6226 (office)
+1 (973) 255-7153 (mobile)
pj@paragonpr.com
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Source: The NASDAQ OMX Group, Inc. via GlobeNewswire
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