Gemini to Launch Market Surveillance Technology in Collaboration with Nasdaq
April 25 2018 - 6:30AM
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 GeminiGemini 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 NasdaqNasdaq (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:
GeminiJulie Mathispress@gemini.comDirect:
424-901-8715
NasdaqRyan Wellsryan.wells@nasdaq.comDirect:
+44 (0) 20 3753 2231Mobile: +44 (0) 7809 596 390
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