Overview

• The agency is replacing 1990s-era surveillance tools with Nasdaq’s widely used platform designed for 24/7 markets and increasing trading complexity.
• New capabilities include automated alerts, cross‑market analytics, transaction‑level reviews and real‑time order‑book monitoring to detect fraud and manipulation.
• Acting Chair Caroline D. Pham said the system will support all CFTC divisions and strengthen protections across derivatives, crypto and event contracts.
• Nasdaq said the technology can be adapted to prediction markets because they function similarly to derivatives and present comparable abuse risks.
• The adoption aligns with a White House digital‑asset report and ongoing rulemaking work that could require market‑data reporting by non‑security crypto venues, with public input in progress.