Smarts Integrity Platform has been installed at BATS Europe, following the implementation of a similar system for US-based Bats Exchange in 2009.

Bats Europe engaged Smarts to install its new Smarts-Multilateral Trading Facility version of the Smarts Integrity Platform. The Smarts system adds to and replaces certain aspects of Bats Europe's existing in-house surveillance capabilities, and provides detection of potential breaches of the Code of Market Conduct, alerts managements, order book replay and other analysis tools.

The Smarts Integrity Platform monitors orders, trades and quotes to identify market violations including market manipulation and insider trading. The platform takes a real-time data feed directly from the trading engine of the relevant trading platform, and processes it in real-time, detecting anomalies and producing alerts.