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Highlights from Compliance Quick Cuts: Best-of-Breed Holistic Surveillance Prevails Under Any Market Conditions

Highlights from Compliance Quick Cuts: Best-of-Breed Holistic Surveillance Prevails Under Any Market Conditions

Following the recent announcement of our strategic alliance with global communications surveillance leader VoxSmart, we took a deeper look at how the partnership will help shape holistic surveillance and the future of market surveillance.

On July 22nd, our CEO, Travis Schwab, and Oliver Blower, CEO of VoxSmart, shared the stage in a Compliance Quick Cuts episode on the market’s latest challenges facing compliance and surveillance teams.

Scroll down to read the highlights owatch the episode in full, HERE.

Holistic surveillance doesn’t exist  – yet

The word holistic has been whispered in the corridors of financial institutions and fintechs alike for years, if not decades, but the reality is that the industry still isn’t there yet. That was the conclusion our CEOs drew after today’s discussion. One of the barriers to this is data. It’s everywhere, it’s unorganized and, more importantly, each data point must be captured and normalized before being able to provide useful insights.

Oliver said, “Transactional data is only one side of the story and in fact, communications data is some of the most context-rich data a business will ever find.”

Oliver’s view is that the industry needs to ensure it is building strong foundations before focusing on the floors above, stating, “Surveillance is a journey, not a destination, and I love the idea that one day we’ll get to a place where one vendor can help firms manage all of their communications and trade risk; I just don’t think we’re there yet.” 

He shared that we have to recognize that in order to build a solid house, you have to have solid foundations —which in this context means having aggregated and normalized data from both sides of your business: trading and communications.

Travis echoed how vital the bigger picture is to ensure you understand your business and the risks it faces, and that it takes experts to really understand those problems well. Travis said, “We are experts in trade surveillance and market risk, and they are hard problems to tackle. But, in order for you to have that holistic view, you need to talk to other experts, such as VoxSmart in the comms surveillance space.”  

Marrying these worlds by working with experts in each field is the approach VoxSmart and Eventus Systems are taking. The goal is to have a really good solution across the various functional areas of surveillance. Bringing in different domain experts in these fields and having them integrate and talk to each other will be what will help firms gain an added level of insight. As often as firms claim to have the Holy Grail solution for holistic surveillance, the single company that can deliver it all doesn’t exist yet.

The black swan of 2020, perhaps our careers

Travis and Oliver discussed how the recent pandemic has really encouraged market practitioners to think about disaster recovery and business continuity in a completely different way. The new environment in which businesses are operating is transforming not only their technology but their business practices, people management and culture.

Gone are the days of having replica offices and recovery sites 30 miles down the road because the risks have changed, and that solution is no longer possible when people can’t leave their house. Businesses are going to consider these risks going forward.


About Eventus Systems

Eventus Systems is a leading global provider of multi-asset class trade surveillance and market risk solutions. Its powerful, award-winning Validus platform is easy to deploy, customize and operate across equities, options, futures, foreign exchange (FX), fixed income and digital asset markets. Validus is proven in the most complex, high-volume and real-time environments of tier-1 banks, brokerages, futures commission merchants (FCMs), clearing firms, trading firms, market centers, buy-side institutions and corporates. The company’s rapidly growing client base of more than 60 firms relies on Validus and Eventus’ responsive support and product development teams to overcome its most pressing regulatory challenges. For more, visit www.eventus.com.[/vc_column_text][/vc_column][/vc_row]