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

A-Team Insight Blogs

First New York Deploys Eventus for Cloud-Based Trade Surveillance

First New York has implemented a cloud-based version of Eventus Systems’ Validus trade surveillance system to monitor its futures trading and investment activities, with a view to expanding the deployment to its equities and equity options trading business.

According to Shawn Fischman, General Counsel & Chief Compliance Officer at First New York, “As a multi-asset, multi-strategy firm with approximately 100 portfolio managers, our structure is extraordinarily complex, particularly as each manager trades accounts with a variety of counterparties across global markets. We wanted to establish a relationship with a market-leading, proven firm with the expertise to handle trade surveillance across multiple asset classes and the flexibility to meet our complex needs. Eventus was among the top providers recommended to us by many of our peers and counterparties.”

First New York’s compliance and technology teams evaluated several trade surveillance solutions and conducted multiple demos with each before selecting Eventus. Fischman says Eventus’s use of machine learning to train the Validus platform based on the firm’s transactions differentiated it from its peers. Specifically, its ability to identify certain patterns, simplify and manage the compliance staff’s day-to-day review process, and gain new efficiencies, was appealing to First New York.

According to Eventus’ President, Jeff Bell, “This implementation involved some unique challenges due to First New York’s structure, the need for connectivity and access to the full range of trade lifecycle data from the many different execution platforms its portfolio managers use, and the complexity of its trading processes. We were able to meet these challenges and get its team up and running quickly.”

Related content

WEBINAR

Upcoming Webinar: Trade surveillance: Deploying monitoring and surveillance capabilities for today’s new normal

Date: 8 April 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Let’s face it: The old ways aren’t coming back. A plethora of challenges brought on by the covid-19 pandemic, coupled with unrelenting market volatility and uncertainty, have pushed financial service firms to look for rigorous monitoring and surveillance solutions...

BLOG

The Deal is Done – LSEG Completes Acquisition of Refinitiv

A big day in the City last Friday as the London Stock Exchange Group (LSEG) completed its all-share acquisition of Refinitiv first mooted back in July 2019. The acquisition is expected to create a leading, UK-headquartered, global financial market infrastructure provider with a strong data and analytics business, significant capital market capabilities across multiple asset...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

MiFID II Handbook – Second Edition

With the compliance deadline for Markets in Financial Instruments Directive II (MiFID II) just over two months away, A-Team Group has updated its MiFID II handbook to bring you the latest details on the regulation’s compliance requirements. Version 2 of the handbook, commissioned by Thomson Reuters, also includes new sections covering data sourcing and data...