Introducing Marketplace Surveillance Technology
Building a rules-based marketplace is critical to our mission to build the future of money — individuals and institutions need to feel safe and secure when trading. To that end, we are excited to announce that over the coming months we will be implementing Nasdaq’s SMARTS Market Surveillance technology to monitor our marketplace.
SMARTS Market Surveillance, which is considered the most widely deployed surveillance system in the world, will enable us to monitor across all of our trading pairs, including BTC/USD, ETH/USD and ETH/BTC. Further, SMARTS will surveil our newly launched Gemini Block Trading™, as well as Gemini Auctions™, which are used to determine the settlement price for the Bitcoin (USD) Futures Contracts that trade on Cboe’s CFE Exchange under the ticker symbol “XBT” (contract specifications | fact sheet).
Adding trade surveillance technology is the most recent development in our efforts to build a rules-based marketplace, which already includes: (i) an Information Sharing Agreement with Cboe Exchange, Inc. allowing for cross-market surveillance, (ii) our internal Trading Policy with respect to material nonpublic information, and (iii) our Marketplace Conduct Rules that apply to all trading on our marketplace.
Our market surveillance team looks forward to using Nasdaq’s Alerts Development Environment and Alerts Management System to become a market leader in custom surveillance rule creation and alerting for the crypto-asset market. We believe that it is this advanced functionality combined with Nasdaq’s proven, rule-based approach to traditional financial market surveillance that will allow for the most thorough monitoring of the evolving crypto-asset marketplace, today and into the future.
Gemini looks forward to a long and productive relationship with Nasdaq.
Onward and Upward,