BlocksInform
Eventus, a provider of multi-asset class trade surveillance and market risk solutions, announced today that cryptocurrency derivatives exchange Deribit has chosen the firm’s Validus platform to provide market abuse monitoring on the exchange.
Headquartered in Panama City, Panama, Deribit is one of the largest cryptocurrency options exchanges by volume and open interest, with approximately 90% market share in bitcoin (BTC) and ether (ETH) options. The stock market also offers futures selected for cryptocurrencies.
David Dohmen, Deribit’s Chief Legal, Compliance & Regulatory Officer said the exchange considered several trade surveillance systems in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai and as Deribit looked to expand into additional jurisdictions while maintaining the highest compliance standards.
He expressed: "once I joined deribit and our search for a monitoring provider was under way, I could share that eventus' customer service is excellent. I have reviewed and worked with various commercial monitoring systems, including Validus in two of my previous 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 want it to happen; it's more than just numbers."
Extra factors in selecting Eventus by Deribit, Dohmen said, the company's extensive experience in exchanging digital assets and competing prices, in addition to the fact that Validus is intuitive and user-friendly. Deribit is going to start working with Validus this quarter.
We are pleased to support Deribit in strengthening its monitoring 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 President and Chief Executive Officer, Travis Schwab.
