NIGERIAN STOCK EXCHANGE GETS SMARTER

The Nigerian stock exchange (NSE) today took one major step to be smarter than, or at least, catch up any one who decides to play smart in the capital market by formally going live with SMARTS market surveillance platform from Nasdag exchange.

Both organisations, the NSE and Nasdag, announced the take off today in a press release which heralded the NSE's joining of 47 markets; 17 regulators and 140 market participants around using SMARTS since its debut 22 years ago.

SMARTS, says the Exchange, will help the NSE monitor market manipulation; detect and deter manipulative tendencies; gather intelligence; carry out traders monitoring and analysis; conduct multi-asset and across market surveillance and execute risk based supervision of flagged participants.

"As we enter the growth phase of the development of our market including then introduction of new assets classes such as derivatives" declared Ms Tinuade Awe, NSE's General Counsel and Head of Regulation, "there will be the imperative of processing significant volumes of market information in real time to detect anomalies".

On the other hand, Tony Sio, Head of Exchange and regulator surveillance , Market technology, Nasdag says of the take off: "The NSE is leveraging the latest in surveillance technology and demonstrating its commitment to fostering a strong market place".

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