Openmarkets Group Partners with Eventus to Enhance Trade Surveillance Solutions

In a strategic move towards bolstering compliance and operational efficiency, Openmarkets Group, one of Australia’s leading fintech firms focused on wealth management and trading, has appointed Eventus as its provider for advanced trade surveillance. This partnership will leverage Eventus' Validus platform, known for its top-tier technology and capabilities, to not only streamline existing processes but also to scale operations amid rapid growth within the industry.

Partnership Highlights

The transition to Eventus comes at a pivotal time for Openmarkets, which processes over AUD $2 billion in annual equities trades each month across an extensive network of more than 99,000 accounts. Openmarkets' CEO, Dan Jowett, indicated that adopting the Validus platform is not just a step forward but a foundational element of their long-term expansion strategy. He remarked, “Our trade surveillance processes will greatly benefit from Validus, a platform globally recognized as best-in-class.” This move aims to enhance their compliance functionality, allowing the firm to adapt swiftly as it seizes growth opportunities in both Australian and international markets.

The Need for Enhanced Surveillance

In today’s complex regulatory landscape, efficient trade surveillance is indispensable for maintaining compliance. Openmarkets evaluated multiple providers before choosing Eventus, which stood out for its cost-efficient and automation-driven Validus platform. This advanced surveillance technology allows for real-time monitoring of trades, ensuring that compliance teams have the necessary tools to operate effectively. The ability to customize alerts tailored to specific trading behaviors was particularly appealing to Openmarkets, providing flexibility in how compliance parameters are set and monitored.

Improved Compliance Processes

Chong Yu, the Head of Compliance at Openmarkets, emphasized the critical nature of the partnership, stating that Eventus has consistently provided timely support throughout the integration and implementation phases. He further explained that one of the standout features of the Validus platform is its capability to categorize clients by accounts and apply different alerts based on specific parameters tailored to varying trading behaviors. This feature allows compliance teams to focus their efforts strategically where they are most needed.

Validus not only boasts a vast array of alerts and typologies, recognizing patterns of potentially suspicious behavior, but also demonstrates scalability that aligns well with Openmarkets' growth trajectory. The partnership is designed to not only meet current regulatory standards but also to anticipate and adapt to future challenges in the financial landscape.

Eventus' Commitment to the Australian Market

Naveen Wahi, Senior Director of Sales at Eventus for the APAC region, expressed enthusiasm about the collaboration, highlighting Openmarkets' commitment to growth while adhering to high compliance standards. Eventus has identified Australia as a key growth market and is dedicated to providing tailored support to meet local needs. The strong focus on enhancing compliance processes through innovative technology has positioned Eventus as a leader in the trade surveillance sector.

In summary, the alliance between Openmarkets and Eventus represents a significant advancement in the realm of financial compliance and surveillance. As both companies look towards an expansive future, the integration of Eventus' Validus platform will serve as an integral component of Openmarkets’ strategy, ensuring they continue to lead within the fintech space while maintaining the highest standards of compliance.