Regulatory Systems
NASD employs advanced technology to monitor the markets and the activities of regulated firms. NASD’s surveillance systems employ sophisticated analytical engines, data mining and pattern recognition to identify problematic trades, detect insider trading and other illicit activity, and identify brokerage firms that pose the greatest risks to market integrity. In addition, NASD has developed ADF (for Alternative Display Facility), a system that provides a neutral facility for regulated firms to report quotes and trades, and TRACE, our bond trade reporting system that has brought unprecedented transparency to the growing fixed income market.
