Regulatory reporting has become a huge preoccupation for Capital Markets organisations, not least since the 2017 changes to FINRA TRACE requirements. These now encompass US Treasuries trades globally, with extremely low tolerance of inaccuracies. Generating robust, timely reporting and matching has become a costly, resource-hungry process which ultimately leads to disciplinary actions against market participants for violations.
Reg Flex from Inforalgo directly addresses this need – automating high quality, accurate reporting in real time that fits a market participant’s specific trading scenario. This provides a significant advantage over typical ‘black box’ style, ‘fire and forget’ generic solutions, allowing market participants to take back control of their regulatory reporting activities.
FINRA members currently reporting via the TRAQS website can achieve significant time and efficiency gains by automating the delivery of trading activity data. This is now a must have for all those trading TRACE-eligible securities that have a 15-minute reporting window. Even for those granted longer reporting times, there are significant benefits from having real-time access to data at all stages of the TRACE acknowledgement and acceptance process.
FINRA members currently reporting to TRACE and ORF via the CTCI protocol will have to migrate to using FIX by February 3rd 2020 if they want to continue to enjoy the benefits of automated transaction reporting. For those without FIX expertise, dedicated connectivity and FIX technology, this might seem like a daunting task.
If you already report using FIX or CTCI but are struggling to maintain enough oversight over the process to ensure compliance or efficiency is maximised, Inforalgo can help you visualise, analyse and provide a greater level of control.