INTERNATIONAL: SEC Acquires Market Surveillance System

Tuesday September 3 2024

On 1^st September 2024, the Securities and Exchange Commission of Sri Lanka (SEC) announced that it has signed the contractual agreement with Nasdaq on 30^th August 2024 to take a significant step towards strengthening its market surveillance role by acquiring surveillance system from Nasdaq. The system will undergo extensive testing and is expected to be fully operational within five months of signing the agreement.

Nasdaq’s market surveillance platform will provide the SEC with cutting-edge technology to detect and respond to market anomalies, potential fraud, and other forms of market manipulation and abuse. The system is scalable to support increasing market activity, capable of processing large volumes of data, and can integrate AI and machine learning to enhance its detection capabilities.

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