Crypto Exchange Gemini to Monitor Trading Using Nasdaq Tech

Gemini plans to monitor its exchange for potential illicit activities using Nasdaq's SMARTS Market Surveillance technology.

AccessTimeIconApr 26, 2018 at 2:30 a.m. UTC
Updated Dec 12, 2022 at 12:54 p.m. UTC
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Cryptocurrency exchange Gemini announced Wednesday that it is partnering with Nasdaq to monitor trading activities on its platform.

Gemini will use Nasdaq's SMARTS Market Surveillance offering to automatically detect any possible price manipulation or other illicit activities, according to a Wednesday's announcement.

Nasdaq currently uses this technology to monitor its marketplaces for abnormal activity. Part of the system compares historical trading data with real-time activity to look for "unusual trading patterns that could be potential breaches of exchange trading rules and practices," as Nasdaq explains.

The cryptocurrency exchange will use it to monitor its major trading pairs for bitcoin and ether, particularly the crypto-to-crypto pairings and those involving the U.S. dollar. Additionally, any suspicious activities tied to bitcoin futures contracts will also be sought out.

Gemini chief executive Tyler Winklevoss said the move is part of the exchange's efforts to maintain a fair market. He explained:

"Since launch, Gemini has aggressively pursued comprehensive compliance and surveillance programs, which we believe betters our exchange and the cryptocurrency industry as a whole ... Our deployment of Nasdaq's SMARTS Market Surveillance will help ensure that Gemini is a rules-based marketplace for all market participants."

Stepping back, Gemini has been making efforts in recent weeks to expand its exchange. In March, the company announced it may add additional cryptocurrencies – naming bitcoin cash and litecoin in particular – to its platform later this year.

Camera image via Shutterstock


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