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Nasdaq's Market Surveillance Technology To Be Used By Crypto Startup Bcause

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Nasdaq Inc. announced that Bcause LLC, the creator of the world's first full-stack cryptocurrency ecosystem, will be launched on Nasdaq Market Technology.

The crypto startup's markets will operate on Nasdaq's matching engine, clearing and market surveillance technology through the Nasdaq Financial Framework platform.

The technology is expected to go live in the first half of fiscal 2019 with the launch of the new Bcause spot cryptocurrency market. The technology would help Bcause monitor its markets for manipulative activities, among other misconduct, thereby creating a safer spot and derivatives market for all participants.

Bcause has also filed with the U.S. Commodity Futures Trading Commission or CFTC to become a designated contract market or DCM and to establish a derivatives clearing organization. Once regulatory approvals are in place, and trading and clearing begins in derivatives, Bcause is expected to serve as a one-stop shop for all parts of the cryptocurrency value chain.

Nasdaq's market technology powers more than 250 market infrastructure organizations and market participants. The company noted that its surveillance technology is designed to ensure that surveillance protocols fit the needs of a crypto marketplace.

The exchange operator in last year had entered in to a technology collaboration with cryptocurrency exchange Gemini Trust Co., founded by Tyler and Cameron Winklevoss.
Gemini leverages Nasdaq's SMARTS Market Surveillance technology, which is considered the most widely deployed surveillance system, to monitor across all of its trading pairs.

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