PhillipCapital extends trade surveillance partnership with Eventus
“PhillipCapital has seen first-hand how Validus can scale to meet any capacity requirements as clients grow, as well as our team’s expertise in not only our customizable technology but the market and regulatory challenges facing the industry.”
Eventus, a global leader in trade surveillance technology, and PhillipCapital, a Chicago-based futures commission merchant and broker-dealer, have announced the extension of their ongoing partnership. This comes as the latest affirmation of the efficacy of Eventus’ flagship platform, Validus, in meeting the diverse trade surveillance needs of PhillipCapital, which has been in partnership with Eventus since 2017.
PhillipCapital CEO Filippo Lecchini was effusive in his praise for the relationship thus far, stating, “Eventus has not only fulfilled all our surveillance needs with exceptional service but also played a pivotal role in supporting the expansion of our business into new markets and products. Notably, Eventus facilitated our ventures into equity options and, more recently, into Eurex.”
The deepening symbiosis between technology providers and financial firms
Validus has been instrumental in supporting PhillipCapital’s ventures into various financial markets, ensuring that the brokerage and clearing firm remains compliant with trade surveillance regulations across futures, equities, and equity options. Eventus CEO Travis Schwab noted the mutually beneficial nature of the partnership, saying, “PhillipCapital has seen first-hand how Validus can scale to meet any capacity requirements as clients grow, as well as our team’s expertise in not only our customizable technology but the market and regulatory challenges facing the industry.”
The announcement could serve as a strong validation for Eventus’ technology, given PhillipCapital’s international standing. The Chicago-based firm is a subsidiary of Singapore’s PhillipCapital Group, which boasts over one million clients and operates in financial hubs across four continents.
As financial markets continue to be scrutinized for transparency and compliance, robust trade surveillance systems like Validus are proving indispensable for firms aiming to expand their global footprint. This extension signifies that both companies are keen on maintaining their trajectory of mutual growth, with Eventus providing the technological muscle and PhillipCapital offering a testbed for scalability and adaptability.
Eventus’ Validus platform is designed to work across a multitude of asset classes, from equities and options to futures and foreign exchange, and has been validated in high-volume, real-time trading environments. This makes it particularly appealing to a diversified firm like PhillipCapital, which has exchange memberships on numerous platforms including those of CME Group, Intercontinental Exchange (ICE), the Dubai Mercantile Exchange, and Eurex.
The deal also underscores a broader trend in the industry: the deepening symbiosis between technology providers and financial firms. As both entities navigate the labyrinthine regulatory landscape, they find that their strengths complement each other — Eventus with its state-of-the-art trade surveillance capabilities, and PhillipCapital with its global market access and diversified product offerings.
Ultimately, the sustained partnership between Eventus and PhillipCapital exemplifies the harmonious intersection of cutting-edge technology and expansive financial services, setting a precedent for what robust collaborations in this sector can achieve.