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Gemini to launch market surveillance technology in collaboration with Nasdaq

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Gemini Trust Company (Gemini) is to employ Nasdaq’s SMARTS Market Surveillance technology to monitor its 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 launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole,” says Tyler Winklevoss, CEO, Gemini. “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,” says Valerie Bannert-Thurner (pictured), Senior Vice President and Head of Risk & Surveillance Solutions, Nasdaq. “Being regulated by the New York State Department of Financial Services (NYSDFS), Gemini is held to the utmost standards in terms of capital reserve requirements. 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.”

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