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    Nasdaq Market Surveillance

    Crypto Surveillance for Market Manipulation

    Nasdaq Market Surveillance for Crypto Exchanges merges state of the art technology with a deep understanding of what it takes to ensure a high integrity marketplace and crypto-forward surveillance strategy.

    AbobeStock_34324225
    60B
    transactions per day

    Key Features

    Nasdaq Market Surveillance for Crypto Exchanges provides real-time, 24/7 monitoring of up to 60B transactions per day

    • Currency pairs trading and fractional volumes trading
    • Manipulation, market operations and market maker alerts with case-management
    • Derivatives specific visualizations and alerts
    • Full depth order book visual replay and reconstruction
    • 5+ years historical data always available 
    • Currency pairs trading and fractional volumes trading
    • Manipulation, market operations and market maker alerts with case-management
    • Derivatives specific visualizations and alerts
    • Full depth order book visual replay and reconstruction
    • 5+ years historical data always available 

    Countering the Threat

    The importance of maintaining market integrity

    Manipulation undermines the fairness and efficiency of cryptocurrency markets. All participants should have an equal opportunity to participate, and if they do not trust the prices, they will not trade causing investors and an array of other stakeholders to suffer.

    Manipulation undermines the fairness and efficiency of cryptocurrency markets. All participants should have an equal opportunity to participate, and if they do not trust the prices, they will not trade causing investors and an array of other stakeholders to suffer.

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    33%
    of wash trading is prevalent in all transactions

    Cryptocurrency Surveillance

    Top 3 Behaviors to Monitor in Cryptocurrency Exchanges

    MIT-Pre-Trade.

    Wash Trading

    When a trader excessively buys and sells securities in order to feed misleading information into the market and generate false volumes. Often focused on instruments that are traded less or by smaller trading platforms looking to attract attention.

    When a trader excessively buys and sells securities in order to feed misleading information into the market and generate false volumes. Often focused on instruments that are traded less or by smaller trading platforms looking to attract attention.

    Layering & Spoofing

    When a trader places orders to give misleading indication of supply and demand, with no intention of trading.

    When a trader places orders to give misleading indication of supply and demand, with no intention of trading.

    MT_Pre-Trade-case.

    Pump & Dump

    When a trader attempts to increase the price through buying activity or misleading information. Normally the trader has an existing position which they sell at the higher price.

    When a trader attempts to increase the price through buying activity or misleading information. Normally the trader has an existing position which they sell at the higher price.

    Cryptocurrency Regulation Around the World

    Tony Sio, Nasdaq NMS Head

    The responsibility is on cryptocurrency exchanges to implement rigorous surveillance programs.

    See in-depth surveillance coverage in action.

    Get Started With Nasdaq’s Market Surveillance for Crypto.

    Resource library

    Learn More About How To Detect & Prevent Market Manipulation

    10+ Crypto Exchanges Leverage Nasdaq Market Surveillance

    Explore Nasdaq's Technology for Crypto Markets

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    Surveillance Technology

    Nasdaq Market Surveillance

    Maintain fair, transparent and safe markets with a robust platform for exchanges, marketplaces and regulators to manage cross-market, cross-asset, multi-venue surveillance.

    Maintain fair, transparent and safe markets with a robust platform for exchanges, marketplaces and regulators to manage cross-market, cross-asset, multi-venue surveillance.

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    Market Platforms

    Nasdaq Marketplace Services Platform

    Facilitate the frictionless exchange of assets, services and information across market ecosystems. 

    Facilitate the frictionless exchange of assets, services and information across market ecosystems. 

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    Marketplace Services Platform

    Cryptocurrency Exchange Technology

    Support high-performance trading, even in volatile, peak conditions, with Nasdaq’s flexible, reliable and redundant technology that scales with market conditions and improves speed of new product innovation.

    Support high-performance trading, even in volatile, peak conditions, with Nasdaq’s flexible, reliable and redundant technology that scales with market conditions and improves speed of new product innovation.