About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Etrali introduces Check Suite to Support Compliance with FCA and CFTC Rules on Call Recording

Subscribe to our newsletter

Etrali Trading Solutions has pulled together functionality it offers around the recording, storing and retrieval of traders’ voice calls to deliver Etrali Check Suite, a solution designed to help firms maintain compliance on the trading floor.

The company previously provided on-site engineer checks of recording solutions as part of a managed service, but has packaged and industrialised the checks to provide a solution that can be used by customers to log into any recorder and make checks. This means Etrali Check Suite can be used not only as part of a managed service, but also by customers that use Etrali to deploy, but not manage, recording solutions and by customers that have deployed recording solutions and need a checking service.

The service is PBX agnostic and includes three key checks that can provide information to help compliance officers understand any infrastructure issues and their potential risks. A health check of recording software and its server helps to ensure the reliability of infrastructure, a recording check listens to random calls and identifies recorded files that may be empty or full of white noise, and a call check matches the number of calls logged by the PBX to the number recorded. All the checks within the Etrali Check Suite can be carried out using the company’s software on site or remotely, with users benefitting from reports and analytics that provide better governance, control and auditability of their recording infrastructure.

Robert Powell, global head of compliance and product management at Etrali Trading Solutions, explains: “Etrali Check Suite gives clients increased knowledge about the functioning of their recording solutions. We make critical information readily accessible so that a compliance team can act on it.”

Considering compliance requirements around voice recording, Powell says the Check Suite will help users comply with UK Financial Conduct Authority regulations on call recording that are enshrined in rule 11.8.5 in the authority’s Conduct of Business Sourcebook, as well as those that must comply with the US Commodity Futures Trading Commission’s record keeping requirements set out in rules 23.202, 1.31 and 1.35.

With Etrali customers recording voice activity on about 4,000 lines on a global basis and about 20% of these using one of the company’s health checks, Powell concludes: “We hope that by packaging our checks in Etrali Check Suite, customers will move towards using all three.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: New trends and technologies influencing post-trade digitalisation

While digital transformation of front-office functions at financial institutions is well underway, the back office is lagging, calling on firms to reassess and innovate post-trade processes. The need for change is highlighted by specific issues, including the move towards T+1 settlement and increasing regulatory scrutiny of post-trade processes, as well as broader challenges of legacy...

BLOG

Audit Risk Platform Adds ESG Functions of Use to Investors

A regulatory risk assessment platform for UK-based auditors has been upgraded with ESG functions that can be used in financial institutions’ due diligence processes. RegTech provider Ideagen has made it possible for clients to isolate non-financial reporting requirements from a broader checklist of compliance expectations of companies large and small. The functionality has been created...

EVENT

RegTech Summit New York

Now in its 6th year, the RegTech Summit in New York will bring together the regtech ecosystem to explore how the North American capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Valuations – Toward On-Demand Evaluated Pricing

Risk and regulatory imperatives are demanding access to the latest portfolio information, placing new pressures on the pricing and valuation function. And the front office increasingly wants up-to-date valuations of hard-to-price securities. These developments are driving a push toward on-demand evaluated pricing capabilities, with pricing teams seeking to provide access to valuations at higher frequency...