FTX US Selects Eventus for Trade Surveillance
Posted by Colin Lambert. Last updated: December 10, 2021
Cryptocurrency exchange FTX US has selected Eventus Systems’ Validus platform to conduct trade surveillance and risk monitoring on its FTX US Derivatives platform.
The exchange says it plans to leverage the alert coverage, end-to-end trade practice investigation tools, and data tagging provided by Validus to surveil its listed derivatives market. In addition, FTX US Derivatives and FTX US plan to implement cross-market surveillance to detect behaviour that spans multiple asset classes and order books, and utilise machine learning-based noise reduction tooling in Validus to enable compliance staff to focus on key information.
“FTX US is committed to being at the forefront of compliance, security and transparency in the cryptocurrency ecosystem,” says Brett Harrison, FTX US president. “We chose Eventus because its team has extensive experience in meeting the highest regulatory and compliance standards across multiple asset classes – including crypto and listed derivatives – and has ensured that Validus can address the rigorous demands of the marketplace. This is the latest step in our mission to deliver industry-leading regulatory and compliance services to investors trading on our platform.”
Eventus CEO Travis Schwab adds, “The FTX US spot and derivatives markets are clearly positioned for significant growth. We’re excited to provide the exchange with a proven, powerful platform that can scale to meet its needs going forward as it continues to attract new institutional and retail clients and as the global regulatory environment for crypto matures. With a host of US CFTC-regulated entities among our client base leveraging Validus, a growing number of firms in the crypto space looking to expand are benefiting from our deep-rooted expertise and go-to-market guidance, along with our ability to cover not just spot, but also derivatives and equities, as well as ETFs and other trading instruments across both digital assets and traditional finance.”