Tradovate, the online brokerage for active, self-directed futures traders, has deployed Eventus Systems’ Validus platform for trade surveillance.
Hosted by the provider of multi-asset class trade surveillance and market risk solutions, the Eventus Validus platform allows Tradovate to monitor more than 2.5 million orders per month to identify patterns and potentially dangerous activity within the order flow.
The platform also facilitates operational compliance, including monitoring and the correct use of regulatory tags.
Eventus’ alert classification generates a visual representation of activity within the wider time period when an alert is triggered, before implementing machine learning and robotic process automation to investigate each alert and pinpoint market behaviour.
Rick Tomsic, founder and CEO of Tradovate Holdings, explains: “The Validus platform has been a great tool for us to help our trade desk identify and drill down into any potential trade irregularities.”
“The combination of pre-built surveillance procedures, with reports and protocols we can customise based on our needs and client base, is extremely powerful. Validus gives us the ability to dive deeply into any suspicious or unusual order flow activity at a very granular, detailed level, giving us comfort both from a trade desk and compliance standpoint.”
Travis Schwab, CEO of Eventus Systems, adds: “This is a great example of how our platform can be used not only by compliance and regulatory teams, but by front-office supervisors. We commend the firm for going above and beyond what is required in order to stay ahead of any potential issues and leverage the many capabilities Validus has to offer.”
