Blockchain-based corporate bond trading startup LedgerEdge has selected multi-asset class trade surveillance and market risk solutions provider Eventus Systems for its real-time trade surveillance platform dubbed Validus ahead of its launch.
DLT-based corporate bond trading platform LedgerEdge plans to first launch later this year as a multilateral trading facility in the UK and to roll out an alternative trading system (ATS) in the first quarter of 2022, subject to regulatory approvals.
The cloud-based platform will provide LedgerEdge with market surveillance and risk monitoring capabilities. It can help clients monitor potential spoofing, layering or wash trading activities using machine learning technology. Validus is already integrated with LedgerEdge’s global technology partner Yaala Labs, which has worked with Eventus on behalf of mutual digital asset exchange clients.
Validus platform is easy to deploy, customise and operate across equities, options, futures, foreign exchange, fixed income and digital asset markets. Validus is proven in the most complex, high-volume and real-time environments of tier-1 banks, broker-dealers, futures commission merchants, proprietary trading groups, market centres, buy-side institutions, energy and commodity trading firms and regulators.
Commenting on the new partnership, LedgerEdge COO Ian Chicken said, “We looked at several platforms, and Eventus stood out for its experience in handling large client implementations with significant real-time data requirements. Validus and the Eventus team also came highly recommended by a London-based firm that has been using the platform since last year.”
The deployment at LedgerEdge follows the start of testing for the upcoming platform in May after it integrated functional testing software from Exactpro to assess and maintain the quality of the ecosystem. More recently, the firm also announced the selection of capital markets infrastructure provider Yaala Labs to support its technology delivery.
Eventus CEO Travis Schwab added, “As we continue to grow our presence in the UK and Europe, along with the US and Asia, we are also proud to emphasize the versatility of Validus in providing robust trade surveillance capabilities for fixed income, as well as all major asset classes.”
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