SpiderRock deploys Eventus trade surveillance for futures and options offering

Rick Steves

“As we have begun to provide direct market access as a routing broker and grown in our futures offering, which is subject to a different regulator, we wanted to make sure we chose a trade surveillance platform that has all the tools that we need, a format we can review easily, and capabilities to demonstrate to regulators that we have the proper trade surveillance procedures in place. Validus checks all the boxes for us.”

SpiderRock Technology Services has partnered with Eventus, the provider of multi-asset class trade surveillance and market risk solutions, to deploy the Validus platform for trade surveillance.

Serving large hedge funds, bank trading desks, and proprietary trading firms, SpiderRock is an algorithmic execution and risk management technology provider as well as agency broker-dealer and market data provider.

SpiderRock boasts a flagship equity and options offering and now growing futures business. The Validus platform will initially focus on the firm’s client activity in futures and options on futures contracts.

SpiderRock offering of CME Group’s futures and options gains traction

SpiderRock Chief Revenue Officer Annabelle Baldwin said: “Eventus’ ability to handle extraordinarily large data sets with scalable capacity is really what sold the Validus platform to us. As a company, we handle an immense amount of flow when it comes to the level of traffic that goes downstream in our core business of equities and equity options, and we are now gaining traction in our relatively newer offering of CME Group futures and options on futures. A lot of providers simply don’t have the robust technology to handle this level of flow and capacity, and over time, we hope to partner with Eventus on all asset classes we support.”

Karl Jones, Chief Compliance Officer of SpiderRock, said: “As we have begun to provide direct market access as a routing broker and grown in our futures offering, which is subject to a different regulator, we wanted to make sure we chose a trade surveillance platform that has all the tools that we need, a format we can review easily, and capabilities to demonstrate to regulators that we have the proper trade surveillance procedures in place. Validus checks all the boxes for us.”

Eventus CEO Travis Schwab said: “We’re honored to work with SpiderRock to meet its trade surveillance needs as the company continues to grow and expand into new asset classes. The scalability of Validus – and our track record of successfully handling billions of messages per day, around the clock, for any given client – has distinguished us within the industry.”

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