Nasdaq Ships Surveillance Tech for trueEx
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Under the terms of the five-year deal, Smarts Integrity will be the principal surveillance system for the venue operator, which will bring oversight operations in house. Sefs are required to operate a surveillance program under mandates stemming from the Dodd-Frank Act, and the system will provide them with detection and analytical capabilities.
"We are excited to deploy the Nasdaq Smarts product at trueEX, as it will revolutionize the way we conduct surveillance, reporting and data analysis," says Karen O'Connor, COO at trueEX. "This announcement builds on an existing, strong relationship with Nasdaq and is a great complement to an already strong service offering."
The US Commodity Futures Trading Commission (CFTC) granted DCM status to trueEX in September 2012. A notice of temporary registration to operate as a Sef was granted in September 2013.
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