Kyte Group, a futures commission merchant, is getting new market surveillance technology from Nasdaq.
Kyte, which provides DMA, brokerage, clearing and settlement services to professional traders who transact business globally, is now using the bourse’s SMARTs platform. The SMARTS surveillance technology, which is now live, will be leveraged across its entire span of trading on derivatives and equities markets.
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“Since the go-live of SMARTS Broker a few weeks back, we are able to explore, investigate and analyze the trading landscape in a comprehensive way that has improved our market surveillance capabilities to a significant degree,” said Tersia Tame, head of compliance, The Kyte Group Limited. “It’s crucial that we are able to provide such granular analysis for our customers, industry and ourselves in closely monitoring our trading activities to ensure true integrity of the market and to future-proof our investment.”
SMARTS Broker will allow Kyte to easily translate regulatory guidelines and rules into trading alerts that identify potential market abuse and disorderly or irregular trading across asset classes. The technology will also enable Kyte to reduce time-to-market and decrease the total cost of ownership via SMARTS’ hosted model, as well as reduction in the maintenance of hardware, software and data acquisition.
Nasdaq SMARTS technology powers surveillance and compliance for over 40 marketplaces, 11 regulators and 90 market participants across 65 markets globally.
