How SMARTS Finds Manipulation in Saudi Stocks

The Saudi Securities Authority uses the "SmartS" system to continuously monitor trading activities and analyze data to detect abnormal behaviors that may indicate violations, such as price manipulation or trading based on inside information. Over the past year, the system issued 47,500 regulatory alerts, but only 11 cases led to comprehensive investigations, with a focus on uncovering complex trading patterns associated with violations. The goal of this system is to protect investors and promote market fairness by identifying potential violations through the analysis of trading behaviors, rather than targeting individual transactions alone.

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