Eventus and FinClear have partnered to enhance trade surveillance and post-trade monitoring in Australia.
Eventus is renowned for its at-scale, cutting-edge surveillance technology, while FinClear is distinguished by its substantial presence in Australia, handling one in two retail transactions and managing over AU$360bn in annual transactions.
The collaboration aims to bolster FinClear’s surveillance capabilities, leveraging Eventus’ Validus platform. This initiative is driven by the need for more sophisticated and customizable trade monitoring tools in the dynamic Australian equity markets.
Eventus specializes in providing comprehensive trade surveillance software, designed to support various lines of defense in financial markets. Its Validus platform is acclaimed for its adaptability and technological sophistication.
FinClear, on the other hand, is a pivotal player in the Australian market, offering trade execution and clearing services. The company oversees a significant volume of retail transactions and assets in Australia.
FinClear selected Eventus’ Validus platform to transition from its previous provider, seeking enhanced customization and technology sophistication. The platform has already demonstrated efficiency by reducing false-positive alerts and capturing previously undetected trading behaviors, thereby contributing to market integrity.
The partnership is critical in the context of increasing regulatory demands on brokers to monitor trading activity and report suspicious activities. Eventus’ software plays a vital role in assisting FinClear with these regulatory responsibilities.
“Both of our companies have made a big commitment on this implementation, and this has been much more of a partnership than a vendor-customer relationship,” FinClear CEO Andrea Marani said. He highlighted the tailored approach Eventus provided for the Australian equity markets.
Eventus CEO Travis Schwab commented on the mutual benefits of the partnership, saying, “FinClear plays a significant role in the Australian broking community…the firm’s interest in collaborating with us to not only customize the product for its needs but help us tailor the product for the Australian market generally has been extraordinarily beneficial.”
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