NEW YORK and LONDON, Nov. 12, 2014 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq:NDAQ), the world's leading provider of market technology, today announced it will provide SMARTS Broker technology to The Kyte Group Limited, an independent Futures Commission Merchant (FCM), providing DMA, brokerage, clearing and settlement services to professional traders who transact business on the world's leading exchanges. The surveillance technology, which is now live, will be leveraged across their entire span of trading on derivatives and equities markets.
"Since the go-live of SMARTS Broker a few weeks back, we are able to explore, investigate and analyse the trading landscape in a comprehensive way that has improved our market surveillance capabilities to a significant degree," said Tersia Tame, Head of Compliance, The Kyte Group Limited. "It's crucial that we are able to provide such granular analysis for our customers, industry and ourselves in closely monitoring our trading activities to ensure true integrity of the market and to future-proof our investment."
SMARTS Broker will allow Kyte to easily translate regulatory guidelines and rules into trading alerts that identify potential market abuse and disorderly or irregular trading across asset classes. The technology will also enable Kyte to reduce time-to-market and decrease the total cost of ownership via SMARTS' hosted model, as well as reduction in the maintenance of hardware, software and data acquisition.
"Nasdaq is the market leader in delivering global cross market coverage with our SMARTS Broker offering," said Robert Lang, Vice President and Global Head of SMARTS, Nasdaq. "In an evolving marketplace where greater compliance and regulatory focus is required, we are dedicated to being the number one technology provider and offering the expertise that set us apart from our competitors. We look forward to a long-term partnership with Kyte."
With over 20 years of experience as the industry benchmark for real-time and T 1, cross-market surveillance platforms, Nasdaq SMARTS technology powers surveillance and compliance for over 40 marketplaces, 11 regulators and 90 market participants across 65 markets globally.
Nasdaq (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, 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 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
About Kyte Group Ltd
The Kyte Group Limited "KGL", an independent Futures Commission Merchant (FCM), (www.kytegroup.com) provides clearing and settlement services to professional 'expert' traders who transact business on the world's leading exchanges. KGL offers clearing services, risk management, financing and direct market access to proprietary traders, brokers, automated/algorithmic trading systems, market makers and hedge funds. KGL provides comprehensive market access to exchange-listed, traditional and alternative investment instruments including financial futures and options, cash stocks, cash bonds, warrants, foreign exchange and commodity derivatives. KGL is a leading agency clearer on LIFFE, Eurex, CME and ICE.
KGL and its subsidiaries, Kyte Broking Limited and Kyte Capital Advisors LLP, are separately authorised and regulated by the Financial Services Authority.
Kyte Capital Management Limited "KCM" (www.kytecapital.com) is an investment vehicle that provides seed capital to start-up trading groups, small hedge funds, market-makers, individual sole traders and developers of algorithmic trading systems.
KGL and KCM are majority owned subsidiaries of GFI Group Inc.
Source:The NASDAQ OMX Group, Inc.