Eventus, a prominent player in the trade surveillance software sector, has announced significant global expansion in 2023 and presents an optimistic forecast for 2024. The company is on a mission to revolutionise trade surveillance with bespoke, client-driven solutions and innovative technology.
Reflecting on the company’s strategic progression and customer-centric initiatives in 2023, Eventus CEO Travis Schwab highlighted the team’s commitment to enhancing client experiences. Schwab stressed the importance of flexibility, automation, and expertise in the company’s offerings. “After year over year of triple-digit growth, we took a moment in 2023 to reflect on our expanding client base and challenge ourselves on how we can ensure we meet their future needs. Our focus was on refining our offerings and enhancing our capabilities. This proactive approach, coupled with our commitment to flexibility and efficiency, is why clients consistently choose Eventus over traditional providers,” Schwab stated.
2023 was a landmark year for Eventus, marked by the signing of contracts with three tier-1 global banks. These institutions have adopted the company’s Validus trade surveillance platform for diverse asset classes and applications, further cementing Eventus’ leadership in the futures markets.
The company witnessed a significant diversification in its global client base, with nearly half of its revenue originating from outside the U.S., highlighting robust growth in the Asia-Pacific (APAC) and Europe, the Middle East, and Africa (EMEA) regions. Notably, Eventus made strategic inroads in Tokyo, acquiring significant clients in Japan and Australia. The company’s Algo Monitoring application, aligned with the Markets in Financial Instruments Directive (MiFID) II and its Regulatory Technical Standard (RTS) 6, has spurred growth in the EMEA region.
Eventus’ Validus platform caters to all asset classes and types of financial market clients, including exchanges and trading venues. Despite facing challenges in the digital assets sector in early 2023, the company continued to experience robust demand for Validus. “Our digital asset clients are at the forefront of the industry, particularly with the launch of margined futures and spot bitcoin exchange-traded funds (ETFs) in 2024. Eventus is uniquely positioned to support our clients’ growth as they incorporate these offerings into their platforms and expand their businesses to multiple asset classes,” Schwab remarked.
Schwab reiterated Eventus’ founding ethos – compliance software should be adaptable and centered around the user. “In 2023, our Product team focused on equipping Validus with advanced tools to ensure it continues to provide the flexibility and scalability needed as our clients and their needs grow.”
Eventus introduced a new user interface in autumn 2023, allowing clients to swiftly derive surveillance insights and enhance management processes. The engineering team is also crafting a state-of-the-art streaming platform, capable of managing high-volume data streams for both real-time and batch processing scenarios. This platform is expected to deliver high-performance, reliable, and fault-tolerant data ingestion and storage. The in-memory processing will empower clients to conduct rapid data analytics and computations, enabling data-driven decision-making.
Martina Rejsjo, Director of Product Strategy at Eventus, underscored the company’s commitment to agile development. “Our latest architecture is designed for rapid evolution with new features like cross-product capability, dynamic parameterization and behavioral analysis, and it also enables our Services team to efficiently create tailored solutions by asset class and jurisdiction in line with our clients’ specific needs.”
Jeff Bell, President and COO of Eventus, highlighted the unique value of the company’s Services team. “Our commitment to providing precisely the level of service each client requires sets us apart. In 2023, we added our Regulatory Solutions team, comprising in-house experts from top-tier banks and exchanges, to develop custom procedures and reports as well as build automations, ensuring our clients stay ahead of risks and seize new business opportunitie.”
Looking ahead, Eventus is set to leverage its development initiatives and strategic partnerships further. While maintaining a focus on its core trade surveillance and algo monitoring offerings, the company is exploring growth avenues in transaction monitoring, extended fixed income coverage, and the advanced use of AI technologies.
Eventus’ achievements in 2023 included the attainment of a System and Organization Controls (SOC) 2® Type 2 certification, validating the design and operational efficacy of its controls. Additionally, Eventus has accrued nearly 40 global and regional awards and honours since 2018, with seven added in 2023 alone.
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