Bybit, the second-largest cryptocurrency exchange by trading volume, has announced the deployment of Nasdaq's market surveillance platform to ensure compliance with digital asset regulations.
Bybit and Nasdaq Partnership
Bybit has announced the adoption of Nasdaq's market surveillance platform for comprehensive monitoring of its European markets. The partnership aims to comply with the Markets in Crypto-Assets Regulation (MiCAR), which requires exchanges to implement strict surveillance and reporting.
Surveillance Technology Benefits
The Nasdaq platform monitors over 60 billion crypto transactions a day and utilizes algorithms developed over 30 years. This significantly reduces false positives and identifies manipulation on the markets. The technology provides access to complete order book data and ensures quality control and data integrity.
Market Impact and Global Influence
With Nasdaq's platform, Bybit aims to comply with international standards in investor protection and integration with global financial markets. Up to 97% of major banks and 50% of stock exchanges worldwide use Nasdaq technologies, reflecting a high level of trust in this platform.
The implementation of Nasdaq's surveillance platform will enable Bybit to strengthen its market position, enhance trust, and take greater responsibility for compliance in the digital asset space.
