Smart buy
A company founded by a UNSW finance professor to monitor securities markets for insider trading has been sold to NASDAQ, one of the world's largest stock exchanges.
Published on the 30 Jul 2010
SMARTS group, the company founded by finance professor Mike Aitken at the Australian School of Business, has been sold to NASDAQ, one of the world's largest stock exchanges.
The Integrated Market Surveillance System developed by SMARTS provides market surveillance and fraud detection technology to exchanges, regulators and brokers across the world. The system can find evidence of insider trading, market manipulation and continuous disclosure breaches.
"A sale to such an icon of the international stock broking community provides clear recognition of the leadership role that Australia plays in the design and deployment of front-line technology for securities markets," said Professor Aitken.
The tie up with NASDAQ will have major benefits for the Australian School of Business through an increase in job opportunities and postgraduate scholarships, he said.
SMARTS has been recognised as one of Australia's leading exporters, winning the Information and Communications Technology category of the Australian Export Awards.
Professor Aitken is expected to chair a new Advisory Committee to be established by NASDAQ to focus on optimal market design. He is also chief scientist of the Capital Markets Cooperative Research Centre.
Read the full story at the Australian School of Business newsroom.
Media contact: Marie Kelly | 0408 256 381 | mariek@unsw.edu.au