By combining the expertise of both Star and Argus, the partnership will provide customers with a holistic offering that spans a wide range of future-ready compliance tools and services. These have been designed to address both traditional securities, as well as the evolving cryptocurrency markets, for monitoring and detecting employee trading activities.
Argus' solution differentiates on three core principles: coverage, flexibility, and analytics:
- Coverage: Argus maintains a proprietary cryptocurrency master that encompasses millions of tokens and non-fungible tokens (NFTs) through real-time feeds from hundreds of exchanges and blockchains.
- Flexibility: Product flexibility allows clients to configure and automate pre-clearance, holding periods and post-trade surveillance.
- Analytics: The company's analytics surface undeclared accounts and insider trading against non-public market news. This creates the strongest possible set of controls.
The Argus crypto system complements Star's future-ready employee compliance platform by creating an end-to-end digital assets employee/personal account dealing solution that captures information across employee exchanges and wallets. This facilitates efficient and accurate pre-approvals and post-trade monitoring, while providing firms with the visibility they need to flag potential issues (i.e. day trading, excessive leverage), before they emerge.
"The partnership with Star leverages the strengths and capabilities of both of our companies," said Owen Rapaport, Co-founder & CEO at Argus. "Our clients will now have a competitive edge by proactively managing employee trading compliance risks, especially in the rapidly changing world of crypto."
"The fact that Argus is the first employee trade compliance solution for digital assets made them the perfect partner for Star as we grow our cryptocurrency monitoring offerings to meet the demands of regulators globally," said Steve Schott, Head of Ecosystem and Partnerships at Star. "Together the partnership creates the most comprehensive and forward-thinking compliance solution in the market. Clients will now have access to a complete, holistic offering for managing employee trading, monitoring MNPI, front-running, and supervision regarding securities and crypto currency."
Star has more than 20 years' experience building configurable compliance technology, supporting a global client base across a broad range of services. In April 2023, Star launched its new Crypto Asset Pre-Clearance software solution which enables greater transparency and visibility into employee crypto-trading activities as a first step in mitigating regulatory compliance conflicts. All of this critical data will be hosted in a single location and accessed through an intuitive user interface focused on efficient workflows.