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Eventus aims to redefine trade surveillance with client-driven solutions in 2024

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NEW YORK, Jan. 23, 2024 /PRNewswire/ — Eventus, a leading provider of comprehensive, at-scale trade surveillance software, today announced robust global growth in 2023 and a strong outlook for 2024 as the firm aims to redefine trade surveillance with client-driven solutions and customizable technology.

CEO Travis Schwab reflected on the company’s strategic growth and client-focused initiatives in 2023, emphasizing the team’s dedication to enhancing client experiences through flexibility, automation, efficiency and expertise.

He said: “After year over year of triple-digit growth, we took a moment in 2023 to reflect on our expanding client base and challenge ourselves on how we can ensure we meet their future needs. Our focus was on refining our offerings and enhancing our capabilities. This proactive approach, coupled with our commitment to flexibility and efficiency, is why clients consistently choose Eventus over traditional providers.”

The firm signed three tier-1 global banks in 2023 that will be using its Validus trade surveillance platform for multiple asset classes and use cases. Eventus also built further on its dominant position in the futures markets.

The company experienced notable diversification in its global client base in 2023, with almost 50% of revenue originating from outside the U.S., indicating strong growth in the Asia-Pacific (APAC) and Europe, the Middle East and Africa (EMEA) regions. The APAC growth was reflected in Eventus’ strategic expansion in Tokyo and major new clients in Japan and Australia. The firm’s Algo Monitoring application, tailored to meet the requirements of the Markets in Financial Instruments Directive (MiFID) II and its Regulatory Technical Standard (RTS) 6, has been an important growth driver in the EMEA region, Schwab said.

The firm covers all asset classes and financial market client types, including exchanges and trading venues. Despite industry challenges in the digital assets sector in early 2023, Eventus continued to see robust demand for Validus.

Schwab said: “Our digital asset clients are at the forefront of the industry, particularly with the launch of margined futures and spot bitcoin exchange-traded funds (ETFs) in 2024. Eventus is uniquely positioned to support our clients’ growth as they incorporate these offerings into their platforms and expand their businesses to multiple asset classes.” 

Schwab said Eventus remains true to its founding principle that compliance software should be adaptable and user-centric. “In 2023, our Product team focused on equipping Validus with advanced tools to ensure it continues to provide the flexibility and scalability needed as our clients and their needs grow.”

Joe Schifano, Global Head of Regulatory Affairs, commented on the industry’s shift away from stagnant legacy systems. “Surveillance leaders are increasingly frustrated with the lack of innovation in their legacy systems. We anticipate a conservative yet significant revolution in surveillance techniques, moving away from the outdated ‘one-size-fits-all’ mantra. It’s not working.”

In the fall of 2023, Eventus released a new user interface, enhancing clients’ ability to gain faster surveillance insights and streamline their management processes. The engineering team is also developing a cutting-edge streaming platform to handle high-throughput data streams, facilitating real-time and batch processing scenarios, while offering high performant, reliable and fault-tolerant data ingestion and storage. The in-memory processing will allow clients to perform faster data analytics and computation, providing the ability to make data-driven decisions.

Martina Rejsjo, Director of Product Strategy, said: “Our latest architecture is designed for rapid evolution with new features like cross-product capability, dynamic parameterization and behavioral analysis, and it also enables our Services team to efficiently create tailored solutions by asset class and jurisdiction in line with our clients’ specific needs.”

Jeff Bell, President and COO, highlighted the unique value of Eventus’ Services team. “Our commitment to providing precisely the level of service each client requires sets us apart. In 2023, we added our Regulatory Solutions team, comprising in-house experts from top-tier banks and exchanges, to develop custom procedures and reports as well as build automations, ensuring our clients stay ahead of risks and seize new business opportunities.”

Looking forward, Eventus will continue leveraging development efforts and strategic partnerships. In addition to continued focus on its core trade surveillance and algo monitoring offerings, it plans to explore avenues of growth in areas such as transaction monitoring, additional fixed income coverage and expanded use of AI technologies.

“Validus will remain a product designed by practitioners and shaped by our clients, for the most effective and accurate risk mitigation,” Schwab said.

Other Eventus achievements in 2023 included earning a System and Organization Controls (SOC) 2® Type 2 certification demonstrating the suitability of the design and operating effectiveness of its controls. In addition, Eventus has now captured nearly 40 global and regional awards and honors since 2018, adding seven in 2023 alone.

About Eventus

Eventus provides state-of-the-art, at-scale trade surveillance software across all lines of defense. 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 Eventus’ rapidly growing client base, including tier-1 banks, broker-dealers, futures commission merchants (FCMs), proprietary trading groups, market centers, buy-side institutions, energy and commodity trading firms, and regulators. Clients rely on the platform, coupled with the firm’s responsive support and product development, to overcome its most pressing trade surveillance regulatory challenges. For more, visit www.eventus.com.

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Velo Is Enhancing Its Own Ecosystem Through Interoperability

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Interoperability in Velo: To Infinity and Beyond

BANGKOK, March 5, 2024 /PRNewswire/ — As new blockchains and blockchain-based platforms emerge, it’s crucial for these ecosystems to be interconnected, enabling users to seamlessly transfer their assets without complications. Velo is enhancing its own ecosystem through interoperability, aspiring to become a pivotal connection point for various blockchains.

A significant update within Universe is its support for multiple wallet addresses on a single platform, catering to users who possess multiple wallets across different platforms. This feature is essential for managing diverse assets conveniently.

Furthermore, Universe is integrating multi-chain login and registration support for networks such as Solana and Tron, thereby improving Velo’s accessibility and usability. Efforts are in place to refactor the user database and management code, ensuring a smooth and secure experience.

Velo is advancing its blockchain integration by incorporating the Solana and Tron networks, aiming to offer enhanced deposit and withdrawal functionalities to enrich its ecosystem. This initiative involves deploying Solana and Tron chain-node and full-node functionalities, thereby broadening the network’s diversity and user options. Additionally, Universe is introducing a dedicated user interface (UI) for Solana transactions, encompassing deposit-withdrawal and account management across Webplus and mobile platforms, ensuring a seamless user experience.

This streamlined approach guarantees that Velo’s users have comprehensive and intuitive access to a broader range of transaction options, significantly boosting the platform’s utility and user engagement.

The integration with the Lightning Network marks a significant advancement in improving Bitcoin transactions. By implementing Lightning chain-node and deploying a BTC full-node, Orbit aims to streamline Bitcoin deposits and withdrawals, making them faster and more cost-efficient.

Velo’s dedication to ensuring inclusivity and connectivity with other blockchains is evident through the concrete steps it has taken. With aggressive strides towards unlocking the full potential of the Velo Protocol, Velo is poised for significant growth and innovation.

About Velo Labs

Velo Labs is a global pioneer in Web3-based financial solutions, offering a cutting-edge liquidity and settlement network for secure, efficient value transfers. Backed by Stellar Network and CP Group, our reach has expanded beyond Southeast Asia and the Pacific, now serving partners worldwide. We connect and complement the gap between traditional banking infrastructure and Web3, leading the way in blockchain mass adoption. Our extensive Web3-based payment network and Lightnet, our licensed settlement partner, position us as a global heavyweight. Velo Labs offers a diverse range of Web3-based products, notably Orbit, tailored for individuals, merchants, corporations, and enterprises worldwide — dedicated to empowering global financial connectivity and expanding accessibility globally.

Follow us for more info: Twitter / Telegram / Website

View original content:https://www.prnewswire.co.uk/news-releases/velo-is-enhancing-its-own-ecosystem-through-interoperability-302079542.html

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CGTN: China vows to develop new quality productive forces in modernization drive

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BEIJING, March 5, 2024 /PRNewswire/ — China saw the number of contracted technology transactions grow by 28.6 percent in 2023, an achievement that speaks volumes of the country’s enhanced capacity for innovation-driven development.

China will leverage the leading role of innovation, spur industrial innovation through advancements in science and technology, and press ahead with new industrialization, according to a government work report submitted on Tuesday to the national legislature for deliberation.

Chinese Premier Li Qiang delivered the report at the opening meeting of the second session of the 14th National People’s Congress in the Great Hall of the People in Beijing.

The report says that the country will strive to modernize the industrial system and develop new quality productive forces at a faster pace.

Developing new quality productive forces

With innovation leading the way, new quality productive forces mean going beyond the traditional models of economic growth. This path features high technology, high efficiency and high quality, and aligns with China’s new development philosophy.

In order to develop these new quality productive forces, the government work report lists a series of tasks.

It calls for improving and upgrading industrial and supply chains besides cultivating emerging and future-oriented industries, such as hydrogen power, new materials, biomanufacturing, commercial spaceflight, quantum technology and life sciences.

The report also says that innovative development of the digital economy will be promoted, an Artificial Intelligence Plus initiative will be launched, and the country will consolidate and enhance its leading position in industries such as intelligent connected new-energy vehicles.

Moreover, China has set an economic growth target of around 5 percent for 2024 and vowed to promote high-quality development. It will issue ultra-long special treasury bonds annually over the next several years for implementing major national strategies and building up security capacity in key areas, starting with 1 trillion yuan of such bonds this year, according to the report.

The report also stresses efforts for invigorating China through science and education and consolidating the foundations for high-quality development.

China will speed up efforts to build a contingent of personnel with expertise of strategic importance and cultivate more first-class scientists and innovation teams.

The country will develop platforms for identifying basic research talent, train high-performing engineers and highly-skilled workers, and enhance support for young scientists and engineers, according to the report.

Acting on people-centered development philosophy

China will make efforts to ensure and improve the people’s welling and promote better and new ways of conducting social governance, the report says.

It highlights that China will deliver real benefits to the people to their satisfaction by acting on the people-centered development philosophy.

In 2023, China’s per capita disposable income of residents increased by 6.1 percent, and over 66 million taxpayers benefited from an increase in the special additional deductions for individual income tax, which cover children nursing expenses, children’s education and elderly care expenses, according to the report.

In 2024, the country expects to create over 12 million jobs in urban areas and keep the surveyed urban unemployment rate at around 5.5 percent.

China will also enhance ecological conservation and promote green and low-carbon development, including taking comprehensive steps to improve the environment and boosting the green and low-carbon economy, according to the report.

In 2023, China’s installed renewable energy capacity surpassed its thermal power capacity for the first time in history and it accounted for over half of newly installed renewable energy capacity worldwide, according to data released by the National Energy Administration.

The country will advance the energy revolution and actively and prudently work toward peaking carbon dioxide emissions and achieving carbon neutrality, according to the report.

https://news.cgtn.com/news/2024-03-05/China-s-top-legislature-starts-annual-session-1rImSPDg5EI/p.html

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SK chemicals, Hyosung Advanced Materials, and Hankook Tire Commercialize South Korea’s First Chemically Recycled PET Tire

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  • Establishing a circular economy that extends from recycled PET to high-strength tire cords and electric vehicle-exclusive tires
  • Leading the global tire industry’s sustainable management by commercializing products with 45% eco-friendly certified materials

SEONGNAM, South Korea, March 5, 2024 /PRNewswire/ — To reduce carbon emissions, the South Korean industrial sector has developed and commercialized the country’s first tire using chemically recycled PET.

SK chemicals (CEO Ahn Jae-hyun), Hyosung Advanced Materials Co., Ltd. (CEO Cho Yong-soo), and Hankook Tire & Technology Co., Ltd. (CEO Lee Soo-il, hereafter Hankook Tire) announced on the 5th that they have successfully developed the electric vehicle-exclusive tire “iON” applying “circular recycled PET (polyester) fiber tire cords.” Circular recycling is an exclusive chemical recycling technology of SK chemicals that breaks down discarded plastics through chemical reactions into molecular units and then uses these raw materials to produce recycled plastics.

Before the commercialization phase, there were instances where chemical recycling technology was applied to concept tires or prototypes, but the release of a tire product to the market using chemically recycled PET-based tire cords through to commercialization is a first in South Korea.

SK chemicals, Hyosung Advanced Materials, and Hankook Tire have collaboratively developed this tire over a period of about two years. SK chemicals has reliably supplied the circular recycled PET “SKYPET CR”, and Hyosung Advanced Materials developed the high-strength recycled PET-based tire cords using this as a raw material. The developed tire cords were applied to Hankook Tire’s premium electric vehicle tire brand, iON. The iON tire, with a 45% sustainable material content, has recently passed the stringent reliability verification by a European automotive manufacturer, securing final approval for use and being mounted as tires for new vehicles.

Tire cords are fiber reinforcement materials that help maintain the shape of the tire and withstand the load and impact applied during driving, enhancing the tire’s durability, driving performance, and ride comfort.

SK chemicals’ “SKYPET CR” has the advantage of maintaining high-quality properties and safety even after infinite recycling, compared to the physical recycling method of washing discarded plastics or cutting them into flakes for reuse, and it can achieve properties equivalent to petrochemical-based materials.

The iON model developed by Hankook Tire incorporates 45% sustainable materials, including bio-based, circular, and bio-circular polymers, bio-based silica along with Hyosung Advanced Materials’ tire cords, and the model is the first tire to bear the ISCC PLUS certification logo.

 

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