Eventus enters Australia: stockbroker Morrison Securities deploys multi-asset surveillance

Rick Steves

Validus uses machine learning and robotic process automation for deep digging into potential issues and fast resolution, as well as a complete audit trail of all automation for use in supervisory reviews and regulatory inquiries.

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Eventus Systems has secured its first client in Australia, Sydney-based stock brokerage firm Morrison Securities.

The stockbroker will deploy Eventus’ Validus platform for trade surveillance in equities, equity options, and warrants, as the firm aims to retain its leading position in the Australian Securities Exchange (ASX) equity derivatives market by volume and value.

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”, added the Managing Director for the provider of execution and clearing services to Australia Financial Services Licence (AFSL) holders.

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.

Eventus has steadily grown its presence around the world, including in the Asia-Pacific (APAC) region. Morrison Securities will thus be marked as a milestone for the provider of multi-asset class trade surveillance and market risk solutions.

Travis Schwab, Chief Executive Officer at Eventus, 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.”

Using machine learning and robotic process automation, Eventus’ Validus platform 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 automation for use in supervisory reviews and regulatory inquiries.

Eventus has recently partnered with First New York, which deployed the multi-asset trade surveillance service for its hundreds of thousands of transactions executed annually. The way Validus can be trained through its machine learning capability really stood out among others.

The firm has begun using the cloud-based version of the platform for futures and has moved to Validus to provide surveillance to all of its equities and equity options trading activity as well.

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