Gemini, the New York registered digital asset exchange announced they will be using Nasdaq SMARTS Market Surveillance which will enable the bitcoin and ether exchange to monitor trading across BTC/USD, ETH/USD, and BTC/ETH.
Further, SMARTS will surveil the company’s newly launched block trading, as well as Gemini auctions, which are used to determine the settlement price for the Bitcoin (USD) Futures that trade on Cboe’s CFE Exchange.
Adding trade surveillance technology is Gemini’s most recent development in their efforts to build a rules-based marketplace, which already includes:
(i) an Information Sharing Agreement with Cboe Exchange, Inc. allowing for cross-market surveillance
(ii) internal Trading Policy with respect to material nonpublic information
(iii) Marketplace Conduct Rules that apply to all trading on the Gemini exchange.
The Gemini Team said:
“Building a rules-based marketplace is critical to our mission to build the future of money — individuals and institutions need to feel safe and secure when trading. To that end, we are excited to announce that over the coming months we will be implementing Nasdaq’s SMARTS Market Surveillance technology to monitor our marketplace.”
“Our market surveillance team looks forward to using Nasdaq’s Alerts Development Environment and Alerts Management System to become a market leader in custom surveillance rule creation and alerting for the crypto-asset market. We believe that it is this advanced functionality combined with Nasdaq’s proven, rule-based approach to traditional financial market surveillance that will allow for the most thorough monitoring of the evolving crypto-asset marketplace, today and into the future.”