Eventus, a provider of trade surveillance and financial risk solutions, and Bitpanda, Europe’s crypto platform, announced that Bitpanda will deploy Eventus’ Validus platform to meet its trade surveillance needs and legal obligations.
Established in Vienna in 2014, Bitpanda has offices across the region, including Vienna, Barcelona, Berlin, Krakow and Bucharest.
After a review of trade surveillance solution providers, Bitpanda selected Eventus to help the firm leverage automation to “prevent market abuse, manipulation and insider trading.”
Manol Vanev, Compliance Officer at Bitpanda, said that they evaluated every solution available on the market “before narrowing down candidates.”
They also noted that Eventus rose to the top based on “a variety of factors, including its state-of-the-art solution, strong reputation and extensive experience with many of the world’s largest digital asset firms, broad track record in traditional finance with other asset classes, and expertise in markets and regulation.”
Also important to them is the solution’s reported “ease of use” and the robust and customizable “procedure coverage offered by Validus.”
Philipp Bohrn, Bitpanda Vice President Public and Regulatory Affairs, said: they have grown quickly, and they “need a sophisticated, user-friendly platform that can handle our data and messaging volumes, whilst maximising our efficiencies and scale to meet any capacity needs we may have in the future.”
They added that Bitpanda is very focused on “holding ourselves to the highest compliance standards, and the selection of Eventus for this important function not only supports their regulatory needs today but positions them for sustainable growth and enhanced customer protection in the future.”
Eventus CEO Travis Schwab said that Bitpanda understood the benefit of getting ahead of regulation and “putting in place all the pieces to ensure a robust, scalable trade surveillance environment that can easily adapt to meet its needs as the company grows, adds new asset classes and confronts a rapidly changing regulatory landscape.”
In June, Acuiti and Eventus released a report on the European Union‘s Markets in Crypto Assets Regulation (MiCA), The Impact of MiCA on Crypto Market Surveillance: Insights and Challenges, based “on a survey and series of interviews at 68 firms engaged in crypto trade.”
The study found that MiCA, one of the “first” comprehensive regulatory frameworks for crypto trading to be developed in a major financial jurisdiction, is accelerating “investment in surveillance systems for cryptocurrency trading, though just 9% of the firms in scope for MiCA were fully prepared and a quarter of firms had not yet begun preparations as of mid-year.”
With a selection of digital assets, including 450+ crypto assets and stocks, ETFs, precious metals and commodities, the Austrian fintech offers a comprehensive range of digital assets.
Bitpanda holds licenses in several countries, and has a track record of working with regulators to “keep assets safe and secure.”
This makes Bitpanda one of the “most regulated” trading platforms.
In addition to its headquarters in Vienna, Bitpanda has offices in Amsterdam, Barcelona, Berlin and Bucharest.
Eventus provides trade surveillance software across “all lines of defense.”
Its Validus platform is able to operate across equities, options, futures, foreign exchange (FX), fixed income and digital asset markets.
Validus is the “high-volume,” and real time environments of Eventus’ growing client base, including banks, broker-dealers, futures commission merchants (FCMs), proprietary trading groups, market centers, buy-side institutions, energy and commodity trading firms, and regulators.
Clients depend on the platform, coupled with the firm’s support and product development, to overcome their trade surveillance regulatory challenges.