After successful transition to Eventus in U.S. last year, firm taps Validus platform for futures, fixed income and equities surveillance in Europe
AUSTIN, Texas / LONDON, June 23, 2020 – Eventus Systems, Inc., a multi-award winning global trade surveillance and risk management software platform provider, today announced that INTL FCStone Ltd., the London-based European subsidiary of Fortune 500 company INTL FCStone Inc., will deploy the firm’s Validus platform for market surveillance activities throughout the Europe, Middle East and Africa (EMEA) region. Building on last year’s adoption of the platform for futures market surveillance by the company’s U.S.-based FCM subsidiary, the new agreement substantially expands the relationship not only geographically but also across multiple product types and asset classes, including futures, equities and fixed income.
The newly expanded implementation will be active within weeks, also leveraging the cloud-based version of Validus on a T+1 basis, replacing the current outsourced system used by the London subsidiary.
Alexander Culley, Chief Compliance Officer, EMEAA (Europe, the Middle East, Africa and Asia) for INTL FCStone Ltd., said: “Our colleagues in the U.S. have been extremely pleased with the ability to customize alerts as well as the performance and flexibility of the Validus platform – not only as it relates to U.S. trading venues but also in the European markets traded by U.S. clients. That was important for us, as the markets here that are a major portion of our business have their own unique character and culture. For instance, the fact that Validus works well with the unusual date structure of the London Metal Exchange (LME) was a big selling point for us. We only began discussions in the past seven to nine weeks but are already planning to go live in July so implementation has been very quick out of the blocks. Eventus has worked closely with us to reduce our costs and offer us much more flexibility while ensuring a more robust capability on each of the many markets in which we operate.”
Eventus CEO Travis Schwab said: “It’s particularly gratifying that INTL FCStone has chosen to expand significantly on our relationship after seeing the benefits of Validus first-hand over the course of the past year. This is a proven platform within the organization in reducing false positive alerts, enabling compliance staff to make better use of their time and achieving tangible cost efficiencies. We’ve worked diligently to ensure we cover the markets European firms need, as well as successfully address the unique regulatory requirements and exchange rules in the region.”
Eventus this year established a presence in Europe with staff in London to support clients locally and grow its business in the region. The firm is now actively surveilling activity for clients on more than 100 exchanges and trading venues around the world, regularly adding additional market centers upon client requests.
Validus is the first platform to apply machine learning in concert with a procedural approach to cut down on false positive alerts while ensuring firms have the necessary data to respond quickly and comprehensively to regulatory inquiries.
About Eventus Systems
Eventus Systems 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, brokerages, futures commission merchants (FCMs), clearing firms, trading firms, market centers, buy-side institutions and corporates. The company’s rapidly growing client base of more than 60 firms relies on Validus and Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. For more, visit www.eventussystems.com.
About INTL FCStone Inc.
The INTL FCStone Inc. group of companies provides financial services worldwide through its subsidiaries, including physical commodities, securities, exchange-traded and over-the-counter derivatives, risk management, global payments and foreign exchange products in accordance with applicable law in the jurisdictions where services are provided. References to certain over-the-counter (“OTC”) products or swaps are made on behalf of INTL FCStone Markets, LLC (“IFM”), a member of the National Futures Association (NFA) and provisionally registered with the U.S. Commodity Futures Trading Commission (“CFTC”) as a swap dealer. IFM’s products are designed only for individuals or firms who qualify under CFTC rules as an ‘Eligible Contract Participant’ (“ECP”) and who have been accepted as customers of IFM. INTL FCStone Financial Inc. (“IFCF”) is a member of FINRA/NFA/SIPC and registered with the MSRB. IFCF is registered with the U.S. Securities and Exchange Commission (“SEC”) as a Broker-Dealer and with the CFTC as a Futures Commission Merchant and Commodity Trading Advisor. References to securities trading are made on behalf of the BD Division of IFCF and are intended only for an audience of institutional clients as defined by FINRA Rule 4512(c). References to exchange-traded futures and options are made on behalf of the FCM Division of IFCF. INTL FCStone Ltd. (“IFL”) is registered in England and Wales, company no. 5616586. IFL is authorised and regulated by the Financial Conduct Authority (registration number FRN:446717) to provide to professional and eligible customers including: arrangement, execution and, where required, clearing derivative transactions in exchange traded futures and options. IFL is also authorised to engage in the arrangement and execution of transactions in certain OTC products, certain securities trading, precious metals trading and payment services to eligible customers. IFL is authorised & regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of payment services. IFL is a category 1 ring-dealing member of the London Metal Exchange. In addition IFL also engages in other physically delivered commodities business and other general business activities which are unregulated and not required to be authorised by the Financial Conduct Authority. INTL FCStone Inc. acts as agent for IFL in New York with respect to its payments services business. INTL Asia Pte Ltd. acts as agent for IFL in Singapore with respect to its payments services business.
Trading swaps and over-the-counter derivatives, exchange-traded derivatives and options and securities involves substantial risk and is not suitable for all investors. The information herein is not a recommendation to trade nor investment research or an offer to buy or sell any derivative or security.
Further information on INTL is available at www.intlfcstone.com.