The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

City Index/Forex.com Operator GAIN Capital Deploys Eventus for Surveillance

By Zoe Schiff, Reporter

GAIN Capital Holdings, operator of the Forex.com and City Index online trader services, has deployed the cloud-based version of Eventus Systems’ Validus platform to manage its market surveillance programme for its futures market activities.

The FCM’s Compliance and Risk departments and Trade Desk will be using the Validus system for the firm’s trade surveillance efforts, using FIX drop-copy to actively monitor orders on its core CQG-supplied trading platform. GAIN staff receive custom alerts and can use Validus to take prompt action in the event of any unusual or disruptive trading activity.

The Validus reporting and analytics platform provides a consolidated view of trading, operations, surveillance, compliance, and risk management to help manage all aspects of trading risk in global equities, equity options, futures, fixed income, foreign exchange, and cryptocurrencies. The platform includes a suite of tools for advanced reporting, delivery of multi-party counterparty data, detection of key trading functions, and the ability to scale the platform across asset classes and connect into existing systems to meet client needs.

According to Heather Krakora-Grimm, director of compliance at GAIN Capital, “Trade surveillance has become an industry standard, and although GAIN already had risk and trade monitoring in place, we felt the need to further enhance our processes with a third-party vendor. Eventus came recommended by other FCMs, and there was no need to change [our surveillance system], simply enhance.”

When asked about the evaluation process for choosing a surveillance system, Krakora-Grimm says GAIN based its selection on a number of factors, including “industry recommendtions, reliability, robust customer service support and training and an intellectual system capability for a reduction of false positives.”

She adds: “Our needs were unique; everything we do flows through CQG. Eventus was able to work with us to meet our unique requirements. We’re now active on the platform, which is easy to use.”

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 management over account set-ups, risk settings and other matters.

Related content

WEBINAR

Upcoming Webinar: FINRA CAT CAIS: What to Expect – Giving Regulators Full Access to Your Customer & Account Data

Date: 3 November 2021 Time: 11:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Join n-Tier and a panel of industry experts to discuss implications of the SEC’s Consolidated Audit Trail (CAT) Customer & Account Information System (CAIS) Phase 2e. The initial phase of CAIS was the start of a new era for...

BLOG

VoxSmart Raises $25 Million with Toscafund to Finance Expansion and Growth

In a deal claimed to be one of the largest fundraises conducted for the RegTech and Compliance sector, London-based communications surveillance provider VoxSmart has raised $25 million to strengthen its markets surveillance technology suite and to fund further expansion, particularly in North America and emerging markets. Following $13.7 million raised in earlier rounds of Series...

EVENT

ESG Data & Tech Summit 2022

This summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...