Surveillance firm Eventus adds GH Financials
19th November, 2020|Wendy Lisney
Exchange-traded derivatives clearing firm will deploy cloud-based version of Validus platform from early 2021
Eventus Systems has signed exchange-traded derivatives clearing firm G.H. Financials as the US surveillance firm pursues aggressive plans to expand in Europe and globally.
GHF plans to deploy the cloud-based version of the Eventus Validus platform beginning in early 2021, replacing two existing outsourced solutions.
“We’ve made great progress on our staffing and expansion plans outlined earlier this year,” Eric Einfalt, chief strategy officer at Eventus told Global Investor. “Since the beginning of the year, we’ve already more than tripled our staff globally.”
Eventus recently established its first presence in Hong Kong, Einfalt said, and now has a global client base of more than 60 firms.
“We’ve also steadily grown our digital asset client base, as more and more major cryptocurrency exchanges have selected our firm to provide their trade surveillance platform. Most recently we announced Gemini and BitMEX as new clients.”
Eventus said earlier this year that it plans to multiply its client base in Europe, adding up to 30 by the middle of next year.
London-based GHF, which has subsidiaries in Chicago and Hong Kong, will use Validus for trade surveillance of all futures and options activity, as well as to meet real-time algorithmic monitoring requirements under Mifid II.
Tracy Hetherington, GHF’s global head of compliance, trade surveillance and financial crime, said the firm has a high volume of data, and needed a customisable, flexible solution that also offered coverage of a wide range of exchange rules and jurisdictional requirements.
“We all have the same end goal; we want the markets to be clean and to offer a level playing field,” Hetherington said in a statement. “It’s our intention to build a partnership with our surveillance provider to help further develop the system to address GHF’s challenges of ever evolving markets.
“We would hope this could also benefit all users on the platform, and we can benefit from input and experience offered by other Eventus clients. The firm is very receptive to this type of two-way dialogue and committed to constantly building on the platform.”
Einfalt said the scalability and flexibility of Validus, which allows clients to customize the platform to suit evolving needs, is encouraging wider adoption.
“Our hard work to incorporate the disparate regulatory requirements in jurisdictions across the globe, along with the particular rules of various exchanges across asset classes, is another driver,” he said.
