Interim Chair Caroline Pham said the move was designed to keep pace with rapidly evolving markets. “As our markets evolve with new technologies, it is critical that the CFTC stays one step ahead,” she noted.
Nasdaq’s technology will provide the regulator with automated alerts, real-time order book analysis, and cross-market monitoring. The CFTC said the platform can detect manipulation patterns and scale rapidly during periods of high volatility, ensuring regulators have access to comprehensive data when trading activity surges.
The system is expected to become a cornerstone of the CFTC’s broader oversight strategy as cryptocurrency markets expand.
The move comes shortly after the agency launched its “Crypto Sprint” program, focused on digital asset futures and policy recommendations from the Chairman’s Working Group.
If Congress passes the pending Clarity Act, the CFTC’s authority could expand dramatically — giving it exclusive jurisdiction over blockchain-based commodities and requiring exchanges and brokers to register under stricter compliance, anti-money laundering, and reporting rules.
For now, Nasdaq’s surveillance program gives the CFTC a sharper set of tools to monitor both traditional markets and crypto assets, signaling that regulators are preparing for the next wave of digital finance.
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