FTX Taps Eventus for Global Crypto Trade Surveillance and Risk Monitoring
Nicholas Otieno Apr 27, 2022 02:45
FTX will use the Eventus Validus platform to meet all of its global crypto trade surveillance needs.
Eventus Systems, Inc, a Texas-based global provider of multi-asset class trade surveillance and market risk solutions, announced Tuesday that FTX.com has selected the company to offer trade surveillance and market risk management services and transaction monitoring capabilities to the global crypto exchange.
FTX, a Bahamian cryptocurrency exchange, will deploy Eventus' flagship software, Validus, for trade surveillance and risk monitoring on all of its markets worldwide.
By deploying Eventus’ flagship surveillance and risk monitoring software, the Validus platform, FTX seeks to prevent market manipulation in the rising crypto assets ecosystem.
Eventus will offer surveillance and anti-market manipulation tools for all FTX markets across the world. This comes as recently regulators emphasized the need for safety of crypto trading services amid increased demands for the asset class.
The companies announced at the beginning of the FTX Crypto Bahamas conference, which started on Monday 26th and is expected to run until April 29. The conference features collaboration and networking among major crypto and traditional finance industry players.
Travis Schwab, Eventus CEO, talked about the development and said: "We're incredibly honoured that FTX.COM has placed its full confidence in our platform after experiencing first-hand its power and versatility for meeting compliance and regulatory goals. The exchange has made abundantly clear the importance of a fulsome trade surveillance program to its overall mission."
The move represents a continued expansion of the relationship between the two firms since late last year. In December last year, FTX US selected Eventus in order to deploy the Validus platform to conduct trade surveillance and risk monitoring on its crypto spot, futures and options markets.
Accelerating Expansion of Market Surveillance Tech
In September last year, Eventus raised $30 million in a Series B funding round to enable it to double its workforce and expand its capacity to monitor financial markets.
Since early this year, the firm has been hiring talents as the company expands geographically and technology-wise. In March, Eventus appointed Josh Bosquez as its Chief Technology Officer. Early this month, the company hired Nick Wallis as Managing Director for its Europe, Middle East and Africa (EMEA) region.
In January, Canadian digital asset exchange Bitbuy selected Eventus' s help to ensure its market operates with integrity as regulators tighten rules and oversight in the cryptocurrency space.
Eventus recently entered the Australian market through collaboration with stockbroker Morrison Securities.
Eventus’ flagship software, the Validus platform, monitors high volumes of trading data across cryptocurrencies, equities, options, futures, foreign exchange currencies and fixed income markets. The platform is used by major banks, brokerages, exchanges, proprietary trading firms, and other financial institutions to more effectively manage financial risks and address regulatory challenges.
Image source: Shutterstock