Gemini, the cryptocurrency exchange run by twins Cameron and Tyler Winklevoss, announced today that it will be leveraging Nasdaq's SMARTS Market Surveillance technology to watch the marketplace.
The technology, which is considered the most widely deployed surveillance system in the world, will enable Gemini to monitor across all of its trading pairs, including: BTC/USD, ETH/USD and BTC/ETH.
Further, SMARTS will also surveil activity across the Gemini auction process that is used to determine the settlement price for the Bitcoin XBT futures contracts that trade on Cboe's CFE Exchange.
“Since the launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole," Tyler Winklevoss said. "Our deployment of Nasdaq's SMARTS Market Surveillance will help ensure that Gemini is a rules-based marketplace for all market participants."
“Gemini has been a leading voice in advocating for stronger transparency and thoughtful regulation of the cryptocurrency markets - views we deeply share and have put into practice as a market operator and technology partner," said Valerie Bannert-Thurner, Senior Vice President and Head of Risk & Surveillance Solutions of Nasdaq.
“This is a major milestone in the application of SMARTS- and an important indicator of our commitment to expand the use of our market technology into non-traditional marketplaces, as well as new frontiers beyond the capital markets," he added.
By Jade Olafson