SMARTS Trade Surveillance

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Recognized by the industry for its award-winning trade surveillance and monitoring capabilities, SMARTS Trade Surveillance enables compliance teams at both buy- and sell-side market participants to minimize the most common surveillance challenges: 

  • Translating regulatory guidelines/rules governing trading conduct into trading alerts that effectively identify potentially abusive trading behavior 
  • Efficiently analyzing and managing alerts and outputs, and demonstrating appropriate review and escalation of alerts
  • Sourcing, capturing and maintaining data elements required to conduct a complete review of all trading activity 

As the industry benchmark for real-time and T1 cross-market surveillance platforms, SMARTS Trade Surveillance technology leverages 20 years of experience to create meaningful alerts that analyze complexities in trading across both asset classes and trading venues. SMARTS Trade Surveillance automates the detection, investigation and analysis of potentially abusive or disorderly trading, to help improve the overall efficiency of the surveillance organization and reduce cost, even as market complexity and new regulations increase. 

The solution has direct connectivity to market centers and covers a wide range of asset classes over 85 trading venues. SMARTS Trade Surveillance's hosted SaaS delivery enables users to leverage a library of alerts developed from over 90 100 customers, reducesinfrastructure requirements and also provides the ability for new firms to be up and running in a matter of a few weeks from project inception. SMARTS Trade Surveillance is currently used by over 1,000 surveillance professionals globally.

Key Features

Solutions Highlights: 


  • Comprehensive coverage of 85 global equity, commodity and derivatives trading venues; direct connection to these venues also vastly improves time-to-market 
  • Global surveillance coverage for OTC instruments, including FX and Fixed Income, with automated monitoring—even in the most opaque markets
  • Targeted regional alerts that incorporate jurisdictional regulatory and market-specific parameters 


  • Access to a wide array of market abuse behaviors: Market manipulation, insider trading, order handling rules, market maker, watch/restricted list trading and unusual pricing

Powerful Visualizations 

  • A consolidated view of market information on a per instrument basis across multiple venues, coupled with overlays of user-selected “related securities” and market data 
  • Market replay functionality to recreate the order book for any instrument at any time to view trading activity to review order book activity in-depth 


  • Functionality to link options, futures, equities, FX, fixed income, energy and commodities across global trading venues 

Simple Commercial Model 

  • Hosting and maintenance of data, software and hardware 
  • One monthly fee; no hidden costs
  • Access to all alerts for your selected markets

Key Benefits

Unmatched Benefits

  • Enhance visibility through complete cross-market views of trading 
  • Comply with market regulations and internal risk and compliance policies 
  • Future proof surveillance and compliance programs via flexible, user-friendly solution 
  • Reduce operational cost and complexity of the surveillance program via hosted technology and customized data feeds 
  • Leverage the knowledge and experience of 20 years in surveillance

SMARTS Trade Surveillance Broker has been recognized by Waters Technology in both 2013 and 2014 and the Best Market Surveillance Provider and by Sell-Side Technology in 2014 as Best Sell-Side Surveillance Product.

Case Management 

SMARTS Case Management, powered by Nasdaq BWise enables firms to enforce defined compliance workflow, maintain complete audit trails of alert investigations and documentation, and generate comprehensive management reports across the alert database. The case management module is integral for users to both manage alert processing and escalation, and effectively manage regulatory risk across the entire business. 

Beyond Trade Surveillance 

From award-winning capabilities for market and trade surveillance to robust analytics and case management that enable firms to proactively conduct surveillance beyond the alert to partnerships with leaders in the eComms monitoring and relationship analytics space, Nasdaq provides all of tools necessary to keep surveillance professionals ahead of the sophisticated traders they are watching. 

Complementary Solutions: 

  • eComms Monitoring & Relationship Forensics 
  • Surveillance and Business iQ and Analytics

Product/Service details

User Suitability (Capital Markets & Investment Mgmt)
Asset Managers, Trading firms, Wealth Managers
Geographic Availability
Africa, Asia-Pacific, Europe, Middle East, North America, South America