SMARTS.broker for Derivatives
The SMARTS.broker for Derivatives module is the world’s first cross-market derivatives compliance product. It is available through the core SMARTS.broker service as an additional module.
SMARTS.broker for Derivatives provides complete trade surveillance coverage of all listed instruments across all major derivatives markets.
- All order and trade messages,
- Details of best bid/ask at any point in time during trading day,
- Market depth view via display of multiple quote levels
SMARTS.broker for Derivatives provides a comprehensive set of alert scenarios, including:
| Regulatory Protocol | Activity | Alert Types |
|---|---|---|
| Market Trading/ Business Rules | Trading actions in breach of specific market rules | Includes Order Splitting, Deconstructing of Strategy Trade, Failure to Issue RFQ and Block Trade Allocation. Plus new alerts can be developed in accordance with the applicable market rules. |
| Securities Legislation, Market Abuse, and Suspicious Transaction Reporting | Market Manipulation and Wash Trades | Includes Marking the Close and other alerts focussed on unusual activity at close, Ramping, Pre-arranged Trading, Churning and Wash Trades. |
| Securities Legislation, Market Abuse, and Suspicious Transaction Reporting | Cross Market Surveillance | Provides aggregated view of trading in all series of a stock option/future against the underlying equity security (or asset), and from that data generates alerts such as Mini Manipulation, Cross Market Insider Trading and Cross Market Frontrunning. |
SMARTS.broker for Derivatives provides various visualisation tools to assist in analysing alerts and trading data.
The new visualisation offers users an enhanced way of consolidating all derivatives attached to an underlying asset into a single view accessed via a user-friendly intuitive interface.