STX Deploys Eventus Validus for Trade Surveillance
STX has deployed Eventus' Validus platform for trade surveillance on its planned regulated event contracts market, the companies said in a press release.
STX is preparing to launch a regulated platform for event contracts covering sports, crypto and other real world events. The company said Validus will monitor trading activity and help detect potential market abuse.
The platform is set to monitor behaviors including insider dealing, momentum ignition, price ramping, large order and trade anomalies, layering, spoofing, cross product spoofing, and cancel after fill activity. STX also said its surveillance team will use Validus investigation tools and analytics to review unusual trading patterns.
Eventus has worked with STX during its regulatory engagement, including demonstrations of surveillance capabilities. STX is advancing applications for recognition by the U.S. Commodity Futures Trading Commission as a Designated Contract Market and Derivatives Clearing Organization through XV Exchange and XV Clearing.
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