NIGERIAN STOCK EXCHANGE GOES FOR SMART SURVEILLANCE

The Nigerian Stock Exchange (NSE) will soon acquire the SMART surveillance platform of New York based Nasdag stock exchange.
According to simultaneous press releases today in New York and Lagos, the SMART platform will be used to power the NSE's compliance programme.
The statement says the platform will provide the NSE surveillance expertise needed to grow and expand the market and also equip it to monitor for market manipulation including "layering and spoofing"
Currently, the NSE also uses NASDAQ trading platform as its trading engine.
Commenting on the agreement, NSE's General Counsel and Head Regulation, Tinuade Awe esq said:
" This development affirms our continuous commitment to protecting investors by creating a fair and orderly market".
She added: "As we introduce new asset classes to grow our market, the deployment of a robust, integrated and efficient solution to monitor the increasing complexity of trading activities is imperative"
By opting for SMART surveillance, we hear the NSE will tap into 20 years experience and join the over 52 exchanges and regulators world wide who currently use it to ensure market integrity.
Nasdaq started out in 1971 as National Association of Securities Dealers Automation Quotation (NASDAQ) which today owns a stock exchange reputed to be the second largest in the world with 3059 listings by July 2015. It is second only to New York stock exchange.

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