HKEX Deploys Nasdaq SMARTS Machine Learning Technology for Market Surveillance
April 16 2018 - 2:01AM
STOCKHOLM, Sweden, April 16, 2018
(GLOBE NEWSWIRE) -- Nasdaq Inc. (Nasdaq:NDAQ) has
announced that Hong Kong Exchanges and Clearing Limited
(HKEX) is the first exchange customer in Asia to successfully
deploy Nasdaq SMARTS Market Surveillance's latest machine learning
and participant relationship discovery technology across its equity
market, enhancing its capabilities to safeguard market integrity,
and better protect investors.
Nasdaq has worked closely with HKEX's Market
Surveillance team in implementing machine learning to analyze
unusual trading activities and their subsequent categorization by
surveillance analysts. The aim of these algorithms is to predict
which actions analysts are likely to take based upon their handling
of historical activity as well as discovering new relationships
within the data. With new machine learning capabilities, the
surveillance functions of HKEX will be strengthened by increased
efficiency by focusing on unusual trading activity.
"As a market operator, we have always strived to
be at the forefront of embracing and applying emerging technologies
that will strengthen the integrity of our markets," said Garbo
Cheung, Managing Director and Head of Market Surveillance and
Monitoring, HKEX. "We look forward to continuing our collaboration
with the SMARTS team in further building our machine learning
capabilities in our market surveillance endeavours."
"HKEX has been instrumental in contributing to
this collaboration and embracing emerging technology to protect
market participants," said Valerie Bannert-Thurner, Senior Vice
President and Head of Risk & Surveillance Solutions, Nasdaq.
"The evolution of SMARTS is heavily driven through client
collaboration and our mutual interest in improving and maintaining
market integrity, and we look forward to supporting their continual
innovative approach to market surveillance."
The machine learning capabilities will initially
be used to prioritize the surveillance workflow. The technology
predicts the likelihood that the event will lead to an action by an
analyst. This will particularly help in situations where work load
is high, such as during the opening and closing of the markets. The
new prioritization ranking is then used to complement traditional
quality controls in relation to alert handling, which then enables
surveillance officers to identify outliers where the actual
handling of alerts has differed from the prediction of the
algorithm.
Further, SMARTS has also supplied enhanced trade
relationship visualization to complement a suite of market abuse
alerts targeting group activity. The new visualizations enhance the
efficiency of HKEX to immediately review how participants
coordinate trades through multiple accounts for all historical
market activity.
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:
Nasdaq
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
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This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Nasdaq via Globenewswire
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