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

A-Team Insight Blogs

Itiviti Partners Capital Market Solutions for Reporting to the CAT

Subscribe to our newsletter

Itiviti has partnered Capital Market Solutions (CMS), a consultancy and solutions developer, to provide a regulatory reporting solution for the SEC Rule 613 Consolidated Audit Trail (CAT). The solution is based on CMS’s Regulatory Surveillance & Monitoring System (RSMS) and is timely in following SEC issuance, after several delays, of a schedule for CAT implementation with a first phase deadline of April 20, 2020.

The CMS solution integrates with Itiviti’s connectivity and trading solutions, and will conduct independent validation of Itiviti customers’ CAT reporting. SEC Rule 613 requires broker-dealers to report all transactions conducted in the US equities and listed options markets to a CAT database, enabling cross-market surveillance and reconstruction of market events to identify potential violations of SEC regulations. All market participants with activity in the US are subject to Rule 613, including firms reporting to the Order Audit Trail System (OATS), the predecessor of the CAT, as required by the US Financial Industry Regulatory Authority (FINRA).

Linda Middleditch, executive vice president, head of product strategy at Itiviti, says: “Working with CMS and including its regulatory reporting expertise means we can offer an efficient, easily managed CAT solution that features clean reporting and consistent processes. Recent initiatives by the SEC have made CAT implementation a pressing issue for market participants.”

The CAT solution offered by Itiviti and CMS goes beyond baseline requirements for SEC compliance by offering value-add features including: consolidation of multiple trading systems and ability to surveil a single platform with uniform look, feel and usability; data integrity validation checks and corrective actions prior to submitting CAT reports to FINRA; a dashboard to enable compliance officers to monitor and manage exceptions; a trend analysis tool providing visibility into historical performance and insight into a firm’s overall compliance status; and daily trading transactions linked to regulatory submissions being stored for immediate retrieval in case of an internal or external inquiry.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Embracing cloud in your firm’s regulatory response

Regulatory compliance is a key function for financial institutions. It is also a huge burden in terms of time, data management, systems resources, manual intervention, and reporting. As financial firms progress digital transformation programmes, is it time to move regulatory reporting to the cloud with a view to improved efficiency, reduced costs and better business...

BLOG

Need for Regulatory Clarity on Digital Assets Emerges as Key Theme at A-Team’s TradingTech Summit

The need for regulatory clarity emerged as the issue most needing resolution before institutions fully embrace the world of digital assets, delegates at A-Team Group’s TradingTech Summit in London heard. The TradingTech Summit saw a welcome return to the physical world this week, following last year’s break due to the Covid-induced lockdown. The event was...

EVENT

Data Management Summit New York

Now in its 12th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

GUIDE

ESG Data Handbook 2022

The ESG landscape is changing faster than anyone could have imagined even five years ago. With tens of trillions of dollars expected to have been committed to sustainable assets by the end of the decade, it’s never been more important for financial institutions of all sizes to stay abreast of changes in the ESG data...