Crypto

Eventus to provide trade oversight for leading crypto options exchange Deribit

Deribit considered multiple trading oversight systems in anticipation of operating under the virtual asset regulator in Dubai as the exchange seeks to expand into other jurisdictions while maintaining the highest standards of compliance.

Eventus, the multi-asset class market risk and trade monitoring solutions, continues to expand its client list in the crypto asset segment.

Panama-based cryptocurrency derivatives exchange Deribit has selected the company’s Validus platform to provide market abuse monitoring on the exchange.

Deribit is the world’s largest cryptocurrency options exchange by volume and open interest, with around 90% market share in Bitcoin and Ether options. The exchange also offers selected cryptocurrency futures.

Deribit taps Eventus ahead of Dubai VARA license

Deribit considered multiple trading oversight systems in anticipation of operating under the virtual asset regulator in Dubai as the exchange seeks to expand into other jurisdictions while maintaining the highest standards of compliance.

David Dohmen, Legal, Compliance and Regulatory Director at Deribit, said, “Once I joined Deribit and our search for a monitoring provider was underway, I was able to tell that Eventus customer service is great. I have reviewed and worked with a variety of commercial surveillance systems, including Validus in two of my former roles since 2019. I have been very impressed with the dedication and diligence of the Eventus team to work continuously with its customers 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 numbers.

Eventus came out first due to its extensive experience in digital asset trading and competitive pricing, as well as the fact that Validus is intuitive and easy to use, Dohmen said.

Travis Schwab, CEO of Eventus, said, “We are excited to help Deribit achieve increased monitoring capabilities. As the exchange continues to grow and expand into new regulatory jurisdictions, our Validus platform provides the scalable and agile solution the compliance team will need as its volumes increase and regulatory requirements become more complex. .

Eventus’ Validus platform works across stocks, options, futures, foreign exchange (FX), fixed income and digital assets. The solution is aimed at Tier 1 Banks, Brokers, Futures Brokers (FCMs), Proprietary Trading Groups, Market Centers, Purchasing Institutions, Energy and raw materials and regulators.

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