Nasdaq is providing SMARTS Market Surveillance technology to
monitor cryptocurrency market
NEW YORK and STOCKHOLM, Sweden, April
25, 2018 (GLOBE NEWSWIRE) -- Gemini Trust Company, LLC
(Gemini) and Nasdaq Inc. (Nasdaq:NDAQ) announced today
that Gemini will be leveraging Nasdaq's SMARTS Market
Surveillance technology to monitor its marketplace. The
technology, which is considered the most widely deployed
surveillance system in the world, will enable Gemini to monitor
across all of its trading pairs, including: BTC/USD, ETH/USD and
BTC/ETH. Further, SMARTS will also surveil activity across the
Gemini auction process that is used to determine the settlement
price for the Bitcoin XBT futures contracts that trade on Cboe's
CFE Exchange.
"Since launch, Gemini has aggressively pursued
comprehensive compliance and surveillance programs, which we
believe betters our exchange and the cryptocurrency industry as a
whole," said Tyler Winklevoss, CEO, Gemini. "Our deployment of
Nasdaq's SMARTS Market Surveillance will help ensure that Gemini is
a rules-based marketplace for all market participants."
"Gemini has been a leading voice in advocating for
stronger transparency and thoughtful regulation of the
cryptocurrency markets - views we deeply share and have put into
practice as a market operator and technology partner," said Valerie
Bannert-Thurner, Senior Vice President and Head of Risk &
Surveillance Solutions, Nasdaq. "Being regulated by the New York
State Department of Financial Services (NYSDFS), Gemini is held to
the utmost standards in terms of capital reserve requirements. This
is a major milestone in the application of SMARTS- and an important
indicator of our commitment to expand the use of our market
technology into non-traditional marketplaces, as well as new
frontiers beyond the capital markets."
As the industry benchmark for real-time and T+1
cross-market surveillance platforms, Nasdaq's SMARTS surveillance
technology automates the detection, investigation and analysis of
potentially abusive or disorderly trading, to help improve the
overall efficiency of the surveillance organization and reduce
cost, even as market complexity and new regulations increase. These
solutions are used to power monitoring for more than 45
marketplaces, 17 regulators and 140+ market participants, including
several buy-side institutions, across 65 countries.
About
Gemini
Gemini Trust Company, LLC (Gemini) is a next generation digital
asset exchange and custodian that allows customers to buy, sell,
and store digital assets such as bitcoin and ether. Gemini is a New
York trust company that is held to the highest level of fiduciary
obligations, capital reserve requirements, and banking compliance
standards. Gemini was founded in 2014, by brothers Cameron and
Tyler Winklevoss, to build a bridge to the future of money. Gemini,
in partnership with Cboe Exchange, Inc., launched the first-ever
bitcoin futures contract in December of 2017. For more information,
visit Gemini.com.
About
Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading,
clearing, exchange technology, listing, information and public
company services. Through its diverse portfolio of solutions,
Nasdaq 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 90 marketplaces in 50
countries, and 1 in 10 of the world's securities transactions.
Nasdaq is home to approximately 3,900 total listings with a market
value of approximately $12 trillion. To learn more,
visit: http://business.nasdaq.com
For Media
Inquiries:
Gemini
Julie Mathis
press@gemini.com
Direct: 424-901-8715
Nasdaq
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
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