Gemini to use Nasdaq’s technology to monitor cryptocurrency trades

Earlier today ( April 25th ) it was officially announced by Gemini Trust Company LLC (Gemini) and Nasdaq Inc (NDAQ),  that Gemini would be deploying  Nasdaq’s SMARTS Market Surveillance technology for the purpose of monitoring its marketplace.

By implementing this technology, which is viewed as the most widely spread Surveillance system over the entire globe,  Gemini will be able to monitor movements in all of its trading pairs, including BTC/USD, ETH/USD, and BTC/ETH.

In addition to this, SMARTS will also keep track of activity over the entire Gemini auction process, which is used for determining the settlement price for the Bitcoin XBT future contracts that trade on Cboe’s CFE Exchange.

Tyler Winklevoss, the CEO of Gemini also commented on this venture, as he said, “Ever since its launch, Gemini has been really keen on pursuing surveillance programs and comprehensive acquiescence, which we believe improves not only our exchange but the entire cryptocurrency industry as well.”

The American rower also added, “Our deployment of Nasdaq’s SMARTS Market Surveillance will also see to it that, Gemini is a rule-based marketplace for each and every member of  the cryptocurrency market.”

Valerie Bannert-Thurner, Senior Vice President and Head of Risk & Surveillance Solutions, Nasdaq, also commented on this news, as she said “Gemini has been one of the frontrunners in advocating for stronger transparency and thoughtful regulation of the cryptocurrency markets, these  are views which we deeply shared, and have put into practice as a market operator and technology partner.”

Her statement further reads, “Being regulated by the New York State Department of Financial Services (NYSDFS), Gemini is held to the strictest guidelines as far as capital reserve prerequisites is concerned. This is quite the significant milestone in the application of SMARTS- and a vital indicator of our commitment to spread the implementation of our market technology into non-traditional marketplaces,  and also new frontiers beyond the capital markets.”


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