SMARTS Signs Its Largest Derivatives Exchange Customer
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SYDNEY, AUSTRALIA, Jun 24 (MARKET WIRE) --
SMARTS, the global leader in market surveillance systems and services,
has been selected by leading US-based global futures and OTC markets
operator, IntercontinentalExchange (ICE) to install its market
surveillance platform, SMARTS Integrity Platform to complement ICE's
existing market monitoring activities across ICE's global futures
exchanges.
ICE will be SMARTS' largest derivatives exchange customer and the 2nd
largest exchange customer by market capitalization. SMARTS will partner
with ICE to implement an advanced surveillance platform with a full suite
of standard and customized trading alerts.
ICE, which hosts trading in half of the world's crude and refined oil
futures, selected the SMARTS Integrity Platform through a global
competitive tender. SMARTS prevailed due to its experience and the
technical solution fit. The SMARTS Integrity Platform is the most
advanced and widely used market surveillance technology and will assist
ICE with the detection of prohibited trading activity determined pursuant
to US Commodities Futures Trading Commission (CFTC) and UK Financial
Services Authority (FSA) regulations.
"ICE heralds a new generation of global customer for SMARTS with its
venues across the world and 24 hour trading. SMARTS' unique global
presence and understanding of the various jurisdictions and regulations
enables us to develop and implement a distinct solution that complements
ICE's advanced global technology trading platform," said SMARTS CEO, Dr
Andreas Furche.
"SMARTS delivers added confidence for participants to the markets which
we monitor. Our solutions are globally regarded for their ability to
detect even the most subtle of prohibited trading behaviors. We work
extensively to ensure our systems are 'one step ahead' of prohibited
market activity. SMARTS partners with multinational and multi regional
exchange customers to understand current trading behaviors and bring our
customers best practice in market monitoring and detection," said Dr
Furche.
Commenting on the selection of the SMARTS system, Mayur Kapani, VP of
Trading Technology at ICE said, "We conducted extensive market scoping
and selected SMARTS due to their ability to offer comprehensive solutions
based upon their deep understanding of the characteristics of derivatives
markets and futures trading. Their experience was evident through the
procurement process. Their existing customer base also contributed to our
selection of the SMARTS system."
The installation of SMARTS' exchange solution at ICE will soon be
complemented by the impending launch of SMARTS' leading trade
surveillance solution for stock broking firms SMARTS.broker with coverage
of ICE markets. Planned for an August release, the new product will
provide in-depth surveillance services across all futures and options
instruments traded on ICE's global futures markets which are based in the
US, Europe and Canada.
SMARTS continues to grow its footprint in the US. ICE is SMARTS' third US
exchange customer and now its largest derivatives exchange customer. "As
the capital markets globalize, facilitated by advanced technology trading
platforms such as ICE's platform, SMARTS ensures we are in a position to
partner with exchanges so that they are able to focus on their core
trading platform while we provide the specialized solution of global
surveillance," concluded Dr Furche.
ABOUT SMARTS
SMARTS Group is an Australian based technology company with 40 national
exchange and regulatory customers as well as more than 50 national and
multination brokering firms across 30 countries. With over 130 staff
SMARTS Group is the leading provider of market surveillance solutions
worldwide. The SMARTS Integrity Platform is the industry wide standard
for market supervision and surveillance technology. SMARTS Group was
founded in 1994 and combines real-time event processing, a high
performance database, and unique trading visualisation to enable analysts
to rapidly assimilate large volumes of data and gain insight into complex
trading patterns. www.smartsgroup.com
About ICE
IntercontinentalExchange (NYSE: ICE) operates leading regulated
exchanges, trading platforms and clearing houses serving the global
markets for agricultural, credit, currency, emissions, energy and equity
index markets. ICE Futures Europe trades half of the world's crude and
refined oil futures. ICE Futures U.S. and ICE Futures Canada list
agricultural, currency and Russell Index markets. ICE offers trade
execution and processing for the credit derivatives markets through
Creditex and clearing through ICE Trust and ICE Clear Europe. A component
of the Russell 1000 and S&P 500 indexes, ICE serves customers in more
than 50 countries and is headquartered in Atlanta, with offices in New
York, London, Chicago, Winnipeg, Calgary, Houston and Singapore.
www.theice.com
Further Information
Clare Gill
General Manager
Marketing and Communications
SMARTS Group
+61 (0) 414 580 025
clare.gill@smartsgroup.com
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