Statkraft, a producer of renewable energy, has just announced that it has selected Nasdaq’s (NASDAQ:NDAQ) SMARTS Trade Surveillance to monitor trading behavior across power markets in the EU and Norway, in line with the Market Abuse Regulation (MAR).
Statkraft’s decision adds to a growing community of energy corporations and utilities across the Americas, Europe and Asia using SMARTS to enhance their trade monitoring and contribute to bolstering the integrity of the global energy markets. These include Iberdrola Generacion, ScottishPower Energy Management, Avangrid Renewables, Koch Supply & Trading, TrailStone and Engelhart Commodity Trading Partners, and others across the oil and gas value chain, which includes upstream and downstream sectors as well as power market participants.
As cross-jurisdiction regulation continues to constantly evolve, energy companies are under increased pressure to have in place flexible surveillance technology to keep up with new rules and requirements,” said Valerie Bannert-Thurner, SVP and Head of Risk & Surveillance Solutions, Nasdaq. “We have invested in our energy surveillance technology to allow our clients such as Statkraft to scale their surveillance capabilities as their business expands into new asset classes and geographies, while also addressing important regulatory demands. We look forward to a successful and long-term relationship with Statkraft.
SMARTS continues to invest further in its energy capabilities, including deep behavioral analysis of trading across MAR-regulated venues, which further enhances OTC monitoring of physical and related contracts across multiple exchanges and venues. SMARTS Trade Surveillance for Energy sits on a drop copy network of energy exchanges allowing it to ingest private trade and order data with minimal technical requirements on its clients.
As the industry benchmark for real-time and T+1 cross-market surveillance platforms, Nasdaq’s SMARTS surveillance technology automates the detection, investigation and analysis of potentially abusive or disorderly trading, to help improve the overall efficiency of the surveillance organization and reduce cost, even as market complexity and new regulations increase. These solutions are used to power monitoring for more than 45 marketplaces, 17 regulators and 140+ market participants, including several buy-side institutions, across 65 countries.