The Openmarkets Group will be using the Validus trade surveillance system from Eventus.
An Australian wealth management and financial technology provider, Openmarkets Group (OMG), will be using the Validus trade surveillance system from Eventus, to help expand its suite of wealth and trading capabilities and pursue growth opportunities in Australia, Asia, and the U.S., officials say.
Validus is being deployed for all of Openmarkets’ businesses and will be integrated into the firm’s existing trade surveillance infrastructure. Validus will “monitor all trade activity and orders brokered by the firm, which clears more than AUD $2 billion in annualized equities trades per month across more than 99,000 accounts,” officials say.
“This important partnership isn’t just about streamlining our already strong trade surveillance processes but having a scalable solution that will enable our compliance function to grow with our expanding needs,” says Dan Jowett, CEO for Openmarkets, in a prepared statement.
Openmarkets Group logo
Openmarkets considered other trade surveillance providers before selecting the Validus platform, which Openmarkets executives say, “is ahead of the curve in the surveillance world in the automation space,” according to the announcement. “Eventus’ ability to offer local support in Australia was another factor in the decision, along with the control Openmarkets would have to customize the platform and make sure the alerts generated are on target so compliance staff are able to spend their time wisely.”
Based in Sydney, Openmarkets offers trade execution services, clearing and settlement services, options risk management, and equity order management applications. The firm also serves financial technology providers, dealer groups, private wealth advisers, stockbrokers, and high-volume traders, officials say.
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