Press release
Bitvavo Adopts Nasdaq Market Surveillance to Enhance Integrity of its Digital Asset Exchange
Bitvavo will use Nasdaq Market Surveillance to detect and investigate suspected market abuse Enhanced capability marks a major milestone in the development of
About this update from Nasdaq, Inc.
[{"type":"text","content":"Bitvavo will use Nasdaq Market Surveillance to detect and investigate suspected market abuse Enhanced capability marks a major milestone in the development of the Bitvavo platform Supports early compliance with market surveillance requirements under the EU’s incoming Markets in Crypto Assets Regulation (MiCA) AMSTERDAM and LONDON, July 31, 2024 (GLOBE NEWSWIRE) -- Bitvavo, the largest cryptocurrency Euro spot exchange globally, and Nasdaq (Nasdaq: NDAQ) today announced an agreement that will see the digital asset exchange use Nasdaq’s Market Surveillance technology across its platform. With this agreement, Bitvavo is seeking to further enhance the trust, transparency, and integrity of its marketplace by enabling its compliance framework to keep pace with the rapid growth and development of the business. Bitvavo, established in 2018 in Amsterdam, is a leading European cryptocurrency trading exchange with over 1.5 million users and seeks to offer a comprehensive and user-friendly platform where users can buy, sell, and store over 300 digital assets at competitive trading fees. Bitvavo is registered with the Central Bank of the Netherlands (DNB). The functionality will enable Bitvavo to further enhance detection of market abuse through detailed trading insights and visualizations, replay its order book with a consolidated audit trail across asset classes, and interrogate suspicious activity through a wide range of alerts. The scalable platform will also optimize Bitvavo’s case workflow through the Nasdaq Market Surveillance event analysis and processing framework, and produce granular reports to share with regulators. Jeetan Patel, Chief Risk Officer at Bitvavo, said: “Bitvavo recognizes the critical importance of robust market surveillance and is thrilled to collaborate with Nasdaq, the industry leader in this domain. Partnering with Nasdaq allows us to leverage their proven expertise to effectively detect, monitor, and mitigate market abuse risks, enhance operational efficiency, and provide a more secure and stable trading environment for our clients. As Bitvavo continues to innovate and lead in the cryptocurrency exchange industry, our commitment to security, trust, and stability remains paramount. We look forward to supporting the success of the digital asset ecosystem as we grow and expand across Europe.” Supports early compli...