"Novig enhances its prediction market exchange by integrating the Eventus surveillance solution."

Novig, America's top sports prediction market, has enhanced its exchange by implementing a trade surveillance solution from Eventus, a cutting-edge provider of comprehensive, large-scale trade surveillance and financial risk solutions.

With the new collaboration, Novig will gain various benefits from the Eventus Validus platform, which is tailored to tackle challenges and oversee trading markets. Notably, Novig can customize surveillance scenarios like spoofing, layering, and wash trading to fit its specific market dynamics. Additionally, Eventus provides cross-account and cross-market analysis to help identify coordinated or indirect market manipulation. As Novig expands, the scalable Eventus Validus platform ensures comprehensive coverage and handles increased event volumes smoothly. Novig will receive real-time and post-trade monitoring along with proactive detection and clean forensic auditability, according to a press release. The Eventus platform is user-friendly, enabling Novig to easily map its internal elements like orders and markets. This partnership follows Novig's recognition by the U.S. Commodity Futures Trading Commission (CFTC) as a Designated Contract Market (DCM). This achievement allows the company to operate as a federally regulated prediction market and expand its services across the United States under a unified regulatory framework.

Cameron Routh, CEO of Eventus, expressed his enthusiasm about the new partnership with Novig. He highlighted Novig's focus on integration quality and flexibility, noting that the adaptability of Eventus’s platform, along with their team’s expertise in regulated venues, played a significant role in their selection. Routh emphasized their commitment to helping partners acknowledge the critical role of trade surveillance in achieving sustainable growth. He stated that providing powerful tools to ensure a healthy marketplace is their priority. Kelechi Ukah, co-founder and CTO of Novig, shared the excitement, stating that they view trade surveillance as essential infrastructure rather than a mere compliance requirement. He pointed out that market trust is vital for liquidity, making their surveillance program a cornerstone of their mission. Ukah praised Eventus as a strong partner in developing a credible surveillance program that will grow with Novig, striking the perfect balance between institutional credibility and flexibility to meet Novig’s specific needs.