Eventus outlines its aim to redefine trade surveillance

Eventus outlines its aim to redefine trade surveillance

Eventus, a prominent figure in the trade surveillance software sector, today revealed a significant expansion worldwide in 2023, coupled with a promising outlook for 2024. The company is steering the industry with its client-focused solutions and adaptable technology through its Validus trade surveillance platform.

Reflecting on the strategic advancements and client-driven initiatives of the past year, Eventus CEO Travis Schwab lauded the team’s commitment to elevating client experiences. He stressed the importance of flexibility, automation, and proficiency in meeting and surpassing client expectations.

Schwab remarked, “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.”

2023 marked a pivotal year for Eventus, securing agreements with three tier-1 global banks for the deployment of its Validus platform across various asset classes and use cases. This achievement not only solidified the firm’s dominance in the futures markets but also highlighted its prowess in diversification. Almost half of the firm’s revenue was generated from the Asia-Pacific and Europe, the Middle East, and Africa regions, demonstrating significant growth. This international success is attributed to strategic expansions in Tokyo and major client acquisitions in Japan and Australia. The firm’s Algo Monitoring application, designed to align with the Markets in Financial Instruments Directive (MiFID) II and its Regulatory Technical Standard (RTS) 6, has been instrumental in driving growth within the EMEA region.

The company’s coverage extends across all asset classes and financial market client types, including exchanges and trading venues. Despite the early 2023 challenges in the digital assets sector, Eventus maintained a strong demand for its Validus platform. Schwab noted, “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.”

Eventus prides itself on its founding principle of offering adaptable and user-centric compliance software. In 2023, significant strides were made by the Product team to ensure that Validus continues to provide the necessary flexibility and scalability for the evolving needs of clients.

Joe Schifano, Global Head of Regulatory Affairs at Eventus, pointed out the industry’s growing dissatisfaction with stagnant legacy systems and the anticipation of a transformative shift in surveillance techniques. Emphasising innovation, he stated, “Surveillance leaders are increasingly frustrated with the lack of innovation in their legacy systems. We anticipate a conservative yet significant revolution in surveillance techniques, moving away from the outdated ‘one-size-fits-all’ mantra. It’s not working.”

In the latter part of 2023, Eventus unveiled a new user interface, enhancing clients’ surveillance insights and streamlining management processes. Additionally, the engineering team has been developing a state-of-the-art streaming platform to handle high-throughput data streams, ensuring real-time and batch processing capabilities, along with reliable and fault-tolerant data ingestion and storage. The in-memory processing feature allows for rapid data analytics and computation, fostering data-driven decisions.

Jeff Bell, President and COO of Eventus, underscored the distinctive advantage offered by the firm’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 opportunities.”

Looking ahead, Eventus is dedicated to continuing its development efforts and fostering strategic partnerships. While the core focus remains on trade surveillance and algo monitoring offerings, the company is also exploring growth avenues in transaction monitoring, additional fixed income coverage, and the expanded use of AI technologies.

Schwab concluded, “Validus will remain a product designed by practitioners and shaped by our clients, for the most effective and accurate risk mitigation.”

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