Nasdaq to Provide SMARTS Market Surveillance Technology to Nigerian Stock Exchange

NEW YORK and LAGOS, Nigeria, Jan. 27, 2016 -- Nasdaq (Nasdaq:NDAQ) and the Nigerian Stock Exchange (“The Exchange” or “NSE”) have announced that NSE, which services the largest economy in Africa, will acquire Nasdaq’s SMARTS Market Surveillance platform to power their compliance program. The technology will provide NSE with the surveillance expertise needed to grow and expand the market and equip the exchange with the surveillance tools necessary to monitor for market manipulation, including spoofing and layering. NSE also uses Nasdaq’s X-Stream trading platform as its trading engine.

Commenting on the implementation, Tinuade Awe, General Counsel and Head of Regulation at the NSE said, “This development affirms our continuous commitment to protecting investors by creating a fair and orderly market. As we introduce new asset classes to grow our market, the deployment of a robust, integrated and efficient solution to monitor the increasing complexity of trading activities is imperative. Regulatory and compliance issues continue to be a primary focus in our quest to become Africa’s foremost securities exchange and we are pleased to be leveraging Nasdaq’s global leadership in the development of capital market surveillance systems.”

“We are thrilled to partner with an innovative forward looking exchange such as NSE,” said Tony Sio, Head of SMARTS Market Surveillance, Nasdaq. “NSE has a tremendous growth potential and as the volumes and products expand the sophistication and impact of manipulative practices could also increase. By detecting activities such as spoofing and layering as soon as they occur, the exchange is signaling to the market how seriously it is in promoting a fair market.”

With over 20 years of experience, SMARTS is the industry benchmark for real-time and T+1 surveillance, supervision and compliance. SMARTS Market Surveillance is currently used by over 52 exchanges and regulators to power market integrity on a global stage.

ABOUT THE NSE 

The Nigerian Stock Exchange, a company limited by guarantee, services the largest economy in Africa and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more. The Nigerian Stock Exchange continues to evolve to meet the needs of its valued customers, and to achieve the highest level of competitiveness. It is an open, professional and vibrant exchange, and the Entrepreneurial Growth hub of Africa. The Nigerian Stock Exchange aspires to be Africa’s foremost securities exchange, connecting Nigeria, Africa and the world. To learn more, visit: www.nse.com.ng

About Nasdaq

Nasdaq, Inc. (Nasdaq:NDAQ) is a leading provider of trading, clearing, exchange technology, listing, information and public company services across six continents. 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 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to more than 3,600 listed companies with a market value of approximately $8.8 trillion and more than 10,000 corporate clients. To learn more, visit: nasdaq.com/ambition or business.nasdaq.com.

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For Media Inquiries:

The Nigerian Stock Exchange:
Olumide Orojimi
Head, Corporate Communications
Mobile: +234 (0) 8146262127
[email protected]

Nasdaq:
Ryan Wells
Director, Corporate Communications, EMEA
[email protected]
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390