Eventus Systems, which provides RegTech software solutions for the capital markets, is set to supply its services to Gain Capital.
The online trading services provider deployed Eventus’ cloud-based version of the Validus platform to manage the market surveillance program for its futures operation.
GAIN’s businesses include global contracts for difference (CFD) and foreign exchange (FX) brands FOREX.com and City Index; and its futures group, which provides access to listed derivatives trading on over 30 global exchanges.
It also operates as a non-clearing futures commission merchant (FCM), which connects to exchanges and its clearing firm through CQG, a global provider of high-performance trading, market data and technical analysis tools. The firm offers CQG’s suite of trading tools to its customers, administered through CQG’s Customer Account Service Tool (CAST), for control over account set-ups, risk settings and other matters.
Heather Krakora-Grimm, GAIN Capital Director of Compliance, said: “As we were exploring alternatives for a market surveillance system we really wanted to get up and running, Eventus was highly recommended by another FCM, and we continued to hear great things about the people and the platform so we wanted to see it in action. As a non-clearing FCM with largely retail clients, our needs were unique; everything we do flows through CQG.
“Eventus was able to work with us and CQG to address our unique requirements. We’re now active on the platform, which is easy to use, and Eventus’ training and responsiveness have exceeded our expectations.”
Its compliance and risk departments and Trade Desk are all relying on Validus for its trade surveillance efforts, using FIX drop-copy to actively monitor orders on CQG. GAIN staff receive custom alerts and can use the platform to take swift action in the event of any unusual or disruptive trading activity.
Headquartered in Austin, Eventus is a software firm solving RegTech challenges for capital markets organizations, including Tier 1 banks, brokerages and FCMs, proprietary trading firms, exchanges, corporates and buy-side firms.
The firm’s flagship Validus surveillance and risk software platform – available as a cloud-based or real-time enterprise on-premise solution – provides sophisticated, efficient risk management and surveillance across equities, equity options, futures and cryptocurrencies.
Validus offers a high-performance, scalable platform that was built and battle-tested in the toughest market conditions.
Earlier this year, ENGIE Energy Marketing tapped Eventus’ Validus surveillance and risk software platform to enhance its compliance program. ENGIE Energy is a natural gas, power and natural gas liquids (NGL) wholesale energy marketer, providing market access, hedging and asset management solution. It said it will use Validus to monitor its trading and hedging activities across CME Group and ICE Futures and cleared OTC markets.
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