The adoption of Smarts technology is part of the exchange’s four-year technology roadmap project, which is due for completion in Q2 2007. In addition, the exchange will become a reseller of the Smarts platform, alongside its new next-generation trading and information platforms.
The Market Integrity platform is a market surveillance package that will enable the exchange to continue to monitor and investigate trading in real-time.
The exchange will customize Smarts to include additional features as part of its program to move its markets onto next generation trading technology. TradElect will launch in Q2 2007, a new multi-product capable trading platform, which will deliver a step change in speed, capacity and business agility to the market.
Commenting on the agreement, Adam Kinsley, director of regulation at the London Stock Exchange, said, We support the Smarts concept that market integrity is a responsibility shared by all market participants. To this end the Smarts technology will also be available to UK brokers via Capital Markets Surveillance Services (CMSS) and will aid their compliance officers in assisting the Exchange in maintaining market integrity.
Smarts is currently deployed in 26 national exchanges and regulators across 20 countries, including the Swiss, Hong Kong, Singapore and Australian exchanges.
