GAIN Capital Goes Live With Surveillance Program for Futures Operation - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.


GAIN Capital Goes Live With Surveillance Program for Futures Operation

October 14, 2018

Gain CapitalFX brokerage group Gain Capital Holdings has gone live with regtech firm Eventus’ cloud-based version of the Validus platform to manage the market surveillance program for its futures operation.

GAIN operates as a non-clearing futures commission merchant (FCM), which connects to exchanges and its clearing firm through CQG, Inc., a global provider of high-performance trading, market data and technical analysis tools. As a CQG FCM partner, GAIN offers CQG’s suite of trading tools to its customers, administered through CQG’s Customer Account Service Tool (CAST), for control over account set-ups, risk settings, and other matters.

Heather Krakora-Grimm, GAIN Capital Director of Compliance
Heather Krakora-Grimm, GAIN Capital Director of Compliance

The FCM’s Compliance and Risk departments and Trade Desk are all relying on Validus for the firm’s trade surveillance efforts, using FIX drop-copy to actively monitor orders on CQG. GAIN staff receive custom alerts and can use the platform to take swift action in the event of any unusual or disruptive trading activity. Krakora-Grimm said that Eventus’ cost-effective cloud offering was the right fit for the firm.

Validus provides comprehensive market surveillance and trading risk management for firms and marketplaces in global equities, equity options, futures, fixed income, foreign exchange, and cryptocurrencies.

Heather Krakora-Grimm, GAIN Capital Director of Compliance, said:

“As we were exploring alternatives for a market surveillance system we really wanted to get up and running, Eventus was highly recommended by another FCM, and we continued to hear great things about the people and the platform so we wanted to see it in action. As a non-clearing FCM with largely retail clients, our needs were unique; everything we do flows through CQG. Eventus was able to work with us and CQG to address our unique requirements. We’re now active on the platform, which is easy to use, and Eventus’ training and responsiveness have exceeded our expectations.”

Alli Brennan, CQG Chief of Staff
Alli Brennan, CQG Chief of Staff

Validus features a suite of tools for advanced reporting; delivery of reconciled, multi-party counterparty data; monitoring of key trading functions; and the ability to scale the platform across asset classes and connect into existing systems to meet client needs.

Alli Brennan, CQG Chief of Staff, commented:

“CQG’s mission is to provide best-in-class technology solutions to our customers, and we’re pleased to add Eventus’ market surveillance tools to our suite of add-ons. Eventus allows our FCM partners, like GAIN, to increase their risk management and surveillance capabilities on CQG.”

Travis Schwab, CEO at Eventus
Travis Schwab, CEO at Eventus

Travis Schwab, CEO at Eventus, said:

“It’s a pleasure to welcome GAIN Capital as a client, and we’ve thoroughly enjoyed working with Heather and her team. We look forward to building on that relationship in the coming years. All of our clients have different needs. What distinguishes us is not only our intuitive technology and focus on generating actionable alerts across asset classes, but a willingness to spend time and resources ensuring that our platform meets the needs of each and every client. Our work with more than 10 FCM clients gives us a particular insight into the specific, diverse needs of these organizations. We’re also delighted to be integrated with CQG, which has a tremendous presence in the industry.”

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