SMARTS

SMARTS (Securities Market Automated Research Trading and Surveillance) is a computer system which monitors all real-time trading information and highlights any unusual price or volume movements. SMARTS compares the electronic signal containing all details of trading against a series of parameters. When these parameters are exceeded, the system triggers an alert.

Each alert is referred to an analyst, who assesses the market conditions that caused it. For example, the analyst might determine that public information such as a report on the stock by a stockbroker, a company announcement or newspaper report or broader market conditions (such as commodity prices) can explain the market activity. Surveillance analysts also look for patterns of alerts, which may indicate that an attempt is being made to interfere with normal market forces, requiring further investigation.

Even though ASX has moved to an anonymous market, Surveillance sees all broker identification numbers and operator references of each order entered into the market.