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Market Surveillance Tech Collaboration from Gemini and Nasdaq

Gemini Trust Company plans to utilize the SMARTS Market Surveillance tech for marketplace monitoring. The said technology is a product of Nasdaq.

SMARTS Market Surveillance is one of the most highly preferred and used surveillance systems worldwide. The technology will allow Gemini to practice surveillance and control across their auction process. This, in turn, will enable the company to define the settlement price of XBT futures contracts traded on the CFE exchange through Cboe. Gemini will also be able to regulate its trading pairs like BTC/USD, BTC/ETH, and ETH/USD.

A Promising Milestone

Gemini’s CEO Tyler Winklevoss has expressed that the company has aggressively followed comprehensive compliance and surveillance programs since its launch. Winklevoss believes that it improves their exchange and the cryptocurrency industry overall. “Our deployment of Nasdaq’s SMARTS Market Surveillance will help ensure that Gemini is a rules-based marketplace for all market participants,” he says.

Nasdaq’s own Senior Vice President and Head of Risk and Surveillance Solutions, Valerie Bannert-Thurner, has stated her view on the company.”Gemini has been a leading voice in advocating for stronger transparency and thoughtful regulation of the cryptocurrency markets.” She expresses this as views that they “deeply share and have put into practice as a market operator and technology partner.”

Bannert-Thurner stated that Gemini’s regulation under the New York State Department of Financial Services enables it to maintain the utmost standards in capital reserve requirements. This results to a significant milestone in the application of Nasdaq’s SMARTS system.

“This is a major milestone in the application of SMARTS- and an important indicator of our commitment to expand the use of our market technology into non-traditional marketplaces, as well as new frontiers beyond the capital markets,” she explains.

Gemini Trust Company is a licensed digital asset exchange and custodian. The company focuses on capital reserves, cybersecurity, and banking.


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