Overview

• The regulator is replacing its 1990s-era monitoring system with Nasdaq’s platform, bringing automated alerts, transaction-level analysis, and real-time order book visibility.
• Coverage will extend across traditional futures and options as well as digital asset venues and event-based prediction markets to better detect fraud and manipulation.
• Acting Chair Caroline D. Pham framed the deployment as part of a modernization push that includes the agency’s ongoing Crypto Sprint initiative.
• The upgrade aligns with policy efforts such as White House and PWG recommendations that could require non‑security digital asset venues to report market data to the CFTC.
• Integration will include stakeholder engagement and opportunities for public comment as the agency refines rules for leveraged, margined, or financed retail crypto trading on registered platforms.