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Sydney-based Morrison Securities turns to Eventus Systems for trade surveillance

Sydney-based Morrison Securities turns to Eventus Systems for trade surveillance

Continued uptake of Validus platform in Asia-Pacific region as Eventus signs first Australian client

 

AUSTIN, Texas / SYDNEY, May 13, 2021 – Eventus Systems, Inc., a leading global provider of multi-asset class trade surveillance and market risk solutions, announced today that Sydney-based Morrison Securities, a major Australian stock brokerage firm, will deploy its Validus platform for trade surveillance in equities, equity options and warrants. Morrison is the number one broker in the Australian Securities Exchange (ASX) equity derivatives market by volume and value and a leading provider of execution and clearing services to Australia Financial Services Licence (AFSL) holders.

This is the first Australia-based client for Eventus, which has earned 15 global awards and honors in the past few years and steadily grown its presence around the world, including in the Asia-Pacific (APAC) region.

Eventus CEO Travis Schwab said: “We are thrilled to welcome Morrison as our first client based in Australia and excited to partner with this market leader as our firm continues to grow and evolve. We’ve continued to make strong inroads into APAC and expect that we’ll see significant growth in Australia and other parts of the region in the coming year. Increasingly, firms that have been using legacy surveillance platforms are turning to us for the efficiencies and flexibility that Validus provides.”

Morrison will go live on Validus in July for trade surveillance of the firm’s activity on the ASX, Chi-X Australia (CXA) and the National Stock Exchange of Australia (NSX). The brokerage will deploy the cloud-based version of Validus, hosted in real time.

William Slack, Managing Director, Morrison Securities, said: “We see a lot of similarities between our two organizations and share a common philosophy with Eventus of putting clients first. Its reputation for client service is outstanding, and we’ve had a really good engagement all the way through, from our sales representative to senior leaders. We view Eventus as a true partner, where we can work closely together to develop what we need and efficiently scale our trade surveillance capabilities as we expand onto new exchanges and delve more deeply into the markets we’re trading.

“We believe the functionality of Validus – particularly the artificial intelligence overlay when it comes to alerts – will allow us to be more efficient and precise with how we manage the alerts that come through. Under our current platform, our compliance staff has so much data to sift through each day that it is extremely time consuming to determine which alerts are valid and worth pursuing. By introducing machine learning over time in the system, we’ll cut out the noise and reduce the scope of those alerts significantly, which means we’ll save a lot of time and really be able to focus on what we need to.”

Validus uses machine learning and robotic process automation to enable users to cast a wide net for detecting relevant market behavior and escalate the most actionable alerts for immediate attention. The unique approach enables compliance and risk officers to dig more deeply into potential issues and take resolution action faster, while accounting for all behavior that might easily get overlooked by legacy surveillance methods. Validus also provides a complete audit trail of all automations for use in supervisory reviews and 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, 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.eventussystems.com.

 

About Morrison Securities

Morrison Securities Pty Limited (ABN 50 001 430 342) has been a Participating Organisation of the Australian Securities Exchange since 1985 and is also a market participant of Chi-X Australia, NSX and the Sydney Stock Exchange (SSX). Morrison was acquired by Sequoia Financial Group (ASX:SEQ) in September 2017. The firm specialises in providing white-labelled trading solutions to broker-dealers. Morrison provides seamless and cost-effective execution and clearing solutions to Australian Financial Services Licence (AFSL) holders such as financial planners, financial advisors, buy side, high net worth individuals and trading educators. The team has the right combination of experience and market knowledge necessary to fuel the growth of clients’ businesses. Morrison Securities clients can streamline their business operations and expand their service offerings, while benefiting from the experience and support of the firm’s professional team.