Eventus to provide trade surveillance for top crypto options exchange Deribit

Deribit considered several trade surveillance systems in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai as the exchange looked to expand into additional jurisdictions while maintaining the highest compliance standards.

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

Panama-headquarterted cryptocurrency derivatives exchange Deribit has selected the firm’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 approximately 90% market share in Bitcoin and Ether options. The exchange also offers select futures on cryptocurrencies.

Deribit taps Eventus in anticipation of Dubai’s VARA license

Deribit considered several trade surveillance systems in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai as the exchange looked to expand into additional jurisdictions while maintaining the highest compliance standards.

David Dohmen, Chief Legal, Compliance & Regulatory Officer at Deribit, said: “Once I joined Deribit and our search for a surveillance vendor was underway, I was able to share that Eventus’ customer service is excellent. I’ve looked at and worked with a variety of trade surveillance systems, including Validus in two of my former roles since 2019. I was most impressed with the dedication and diligence of the Eventus team to continuously work with its clients 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 the numbers.”

Eventus came out first because of its extensive experience with digital asset exchanges and competitive pricing, along with the fact that Validus is intuitive and easy to use, said Dohmen.

Travis Schwab, Chief Executive Officer at Eventus, said: “We’re delighted to help Deribit achieve heightened surveillance capabilities. As the exchange continues to grow and expand its business to new regulatory jurisdictions, our Validus platform provides the scalable, agile solution the compliance team will need as its volumes increase and regulatory requirements become more complex.”

Eventus’s Validus platform operates across equities, options, futures, foreign exchange (FX), fixed income, and digital asset markets. The solution caters to tier-1 banks, broker-dealers, futures commission merchants (FCMs), proprietary trading groups, market centers, buy-side institutions, energy and commodity trading firms, and regulators.

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