LONDON and AMSTERDAM, Jan. 24, 2023 /PRNewswire/ — Eventus, a leading global provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has selected the firm’s Validus platform to provide market abuse monitoring on the exchange.
Headquartered in Panama City, Panama, Deribit is the world’s largest cryptocurrency options exchange by volume and open interest, with approximately 90% market share in Bitcoin and Ether options. The exchange also offers select futures on cryptocurrencies.
Deribit Chief Legal, Compliance & Regulatory Officer David Dohmen said the exchange considered several trade surveillance systems in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai and as Deribit looked to expand into additional jurisdictions while maintaining the highest compliance standards.
He said: “Once I joined Deribit and our search for a surveillance vendor was underway, I was able to share that Eventus’ customer service is excellent. I’ve looked at and worked with a variety of trade surveillance systems, including Validus in two of my former roles since 2019. I was most impressed with the dedication and diligence of the Eventus team to continuously work with its clients to help improve how the system can meet our needs and resolve any issues we encounter along the way. They care about getting things done; it’s not just about the numbers.”
Additional factors in Deribit’s selection of Eventus, Dohmen said, were the firm’s extensive experience with digital asset exchanges and competitive pricing, along with the fact that Validus is intuitive and easy to use. Deribit will begin using Validus this quarter.
Eventus CEO Travis Schwab said: “We’re delighted to help Deribit achieve heightened surveillance capabilities. As the exchange continues to grow and expand its business to new regulatory jurisdictions, our Validus platform provides the scalable, agile solution the compliance team will need as its volumes increase and regulatory requirements become more complex.”
About Eventus
Eventus is a leading global provider of multi-asset class trade surveillance and market risk solutions. Its powerful, award-winning Validus platform is easy to deploy, customize and operate across equities, options, futures, foreign exchange (FX), fixed income and digital asset markets. Validus is 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 rapidly growing client base relies on Validus and Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. For more, visit www.eventus.com.
[Editor’s Note: Deribit is not available in the United States or other restricted countries.]
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SOURCE Eventus
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