Cryptocurrency derivatives exchange Deribit has selected multi-asset class trade surveillance and market risk solutions provider Eventus’ Validus platform to provide market abuse monitoring on the exchange.
Headquartered in Panama City, Panama, Deribit is the world’s largest cryptocurrency options exchange by volume and open interest, with approximately 90% market share in Bitcoin and Ether options. The exchange also offers select futures on cryptocurrencies.
Deribit Chief Legal, Compliance & Regulatory Officer David Dohmen said the exchange considered several trade surveillance systems in anticipation of operating under the Virtual Assets Regulatory Authority in Dubai and as Deribit looked to expand into additional jurisdictions while maintaining the highest compliance standards.
Additional factors in Deribit’s selection of Eventus, Dohmen said, were the firm’s extensive experience with digital asset exchanges. Deribit will begin using Validus this quarter.
