Blockchain-based corporate bond trading start-up LedgerEdge has implemented a trade surveillance platform from Eventus Systems as it prepares to launch.
LedgerEdge will use the Validus platform for all markets ahead of its go live as a multilateral trading facility in the UK in September and as an alternative trading system in the US in the second quarter next year.
The cloud-based platform will provide LedgerEdge with market surveillance and risk monitoring capabilities. It can help clients monitor potential spoofing, layering or wash trading activities using machine learning technology.
“We looked at several platforms, and Eventus stood out for its experience in handling large client implementations with significant real-time data requirements. Validus and the Eventus team also came highly recommended by a London-based firm that has been using the platform since last year,” said Ian Chicken, COO at LedgerEdge.
The deployment at LedgerEdge follows the start of testing for the upcoming platform in May, after it integrated functional testing software from Exactpro to assess and maintain quality of the ecosystem.
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