Eventus, a global provider of multi-asset class trade surveillance and market risk solutions, announced that SpiderRock Technology Services, a “high-performance” algorithmic execution and risk management technology provider to institutional trading clients, as well as agency broker-dealer and market data provider, has “deployed the Validus platform for trade surveillance, initially for the firm’s client activity in futures and options on futures contracts.”
SpiderRock reportedly “serves large hedge funds, bank trading desks, proprietary trading firms and other institutional clients globally with its flagship equity and options offering and now growing futures business.”
SpiderRock Chief Revenue Officer Annabelle Baldwin said:
“Eventus’ ability to handle extraordinarily large data sets with scalable capacity is really what sold the Validus platform to us. As a company, we handle an immense amount of flow when it comes to the level of traffic that goes downstream in our core business of equities and equity options, and we are now gaining traction in our relatively newer offering of CME Group futures and options on futures. A lot of providers simply don’t have the robust technology to handle this level of flow and capacity, and over time, we hope to partner with Eventus on all asset classes we support.”
Karl Jones, Chief Compliance Officer of SpiderRock, said:
“As we have begun to provide direct market access as a routing broker and grown in our futures offering, which is subject to a different regulator, we wanted to make sure we chose a trade surveillance platform that has all the tools that we need, a format we can review easily, and capabilities to demonstrate to regulators that we have the proper trade surveillance procedures in place. Validus checks all the boxes for us.”
Eventus CEO Travis Schwab said:
“We’re honored to work with SpiderRock to meet its trade surveillance needs as the company continues to grow and expand into new asset classes. The scalability of Validus – and our track record of successfully handling billions of messages per day, around the clock, for any given client – has distinguished us within the industry.”
As noted in the update, Eventus claims to be “a leading global provider of multi-asset class trade surveillance and market risk solutions.”
Its Validus platform is “easy to deploy, customize and operate across equities, options, futures, foreign exchange (FX), fixed income and digital asset markets.”
Validus is reportedly “proven in the most complex, high-volume and real-time environments of tier-1 banks, broker-dealers, futures commission merchants (FCMs), proprietary trading groups, market centers, buy-side institutions, energy and commodity trading firms, and regulators.”
The company’s client base “relies on Validus and Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges.”