The NSE, in a statement on Thursday, said it would continue utilising Nasdaq’s SMARTS Market Surveillance technology to monitor its market for manipulation, including spoofing and layering.
The Chief Executive Officer, NSE, Oscar Onyema, said the bourse was delighted to extend its matching engine technology contract with Nasdaq.
He noted that the adoption of best-in-class technology was vital for running a modern and competitive market, which would also enable the Exchange to stay agile in the face of an evolving ecosystem.
Onyema said, “The Exchange intends to remain at the forefront of innovation and will actively seek ways to leverage new technologies to drive the growth and development of our market.
“Over the course of our relationship, the NSE has made and will continue to make significant strides in innovation to revolutionise Africa’s capital markets,”
The Senior Vice President, Market Technology, Nasdaq, Paul McKeown, said by continuing to utilise Nasdaq Matching Engine, the NSE would be operating on the most widely used matching engine in the world that combined extraordinary performance with extensive functionality to meet current, future business and performance requirements.