Of Interest / De Interés
MEXICAN STOCK EXCHANGE SELECTS NASDAQ SMARTS TO SUPERVISE MARKET
By Communications Sub-Department of BMV Group
C
onvinced that technological innovation is fundamental to the healthy development of the stock markets worldwide, stock exchanges are seeking new technologies that will allow them to exist in large markets. For this reason, the Mexican Stock Exchange (BMV) recently announced a trade licensing agreement with NASDAQ OMX Group Inc., to use SMARTS, the leading platform in market oversight systems. This system was created by one of the leading suppliers of technology used by stock markets worldwide. Its tools which are used in more than 70 markets in 50 countries across six continents provide a portfolio of the latest-generation technology solutions. The BMV’s migration of its own oversight system in real-time to the SMARTS technology will strengthen the real-time monitoring of the capitals market, thereby ensuring due compliance with international standards in its different processes.
Díez also added that, “through the adoption of this technology, the BMV will remain in the forefront of the services it offers to the general investing public by enhancing transparency, ethics and security with the support of a world-class system.” One of the most important characteristics of this platform is that SMARTS offers scalability that will enable BMV to move forward in accordance with the projected growth of the operating capacity of its markets in a simple way and without having to make large investments. This means that advances will be seen in the short-, medium- and long-term. Moreover, Lars Ottersgard, the vice president, chief executive and markets technology director of NASDAQ, commented that, “Supporting the Mexican Stock Exchange is an opportunity of which NASDAQ is very proud.
The capital market oversight tasks will be consolidated with the new implementation of the SMARTS system, as well as increase the efficiency and efficacy of the processes.
“One of the most important responsibilities of any stock exchange is to maintain a transparent, open, and fair market that is highly monitored and operated with integrity. We hope to continue working with the BMV as it continues to work under these principles and focuses its efforts on market oversight.”
“SMARTS strengthens the ability of BMV to oversee transactions in our market and identify those processes that are contrary to sound market practices in the international environment,” explained Pedro Díez, Market Surveillance Director of BMV
In this way, the Mexican securities market continues to modernize its technical infrastructure to strengthen its operating and post-negotiation services, but, above all, to reaffirm the position of leadership to which the Mexican Stock Exchange is firmly committed.
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“One of the most important responsibilities of any stock exchange is to maintain a transparent, open, and fair market that is highly monitored and operated with integrity. We hope to continue working with the BMV as it continues to work under these principles and focuses its efforts on market oversight.”