Stock exchange improves ability to track insider traders

The New Zealand Stock Exchange has boosted its ability to track insider traders with a high tech electronic surveillance system.

NZSE chief executive Mark Weldon said in a statement today the exchange had recently installed Smarts, which could provide greater analytical information than previously to the Securities Commission about market manipulation.

The move was part of the NZSE's bid to increase investor confidence in the New Zealand sharemarket, and would help in the exchange's front-line role of identifying potential insider trading.

Other exchanges and regulators that have installed Smarts include the Hong Kong, Singapore, Oslo and Copenhagen stock exchanges.

- NZPA