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

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.

Related content

WEBINAR

Upcoming Webinar: The evolution of market surveillance across sell-side and buy-side firms

Date: 21 September 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Market surveillance is crucial, and in many cases a regulatory requirement, to ensuring orderly securities markets and sustaining confidence in trading. It can be breached and has become increasingly complex in the wake of the Covid pandemic, Brexit, and...

BLOG

Glue42 and Deephaven Collaborate to Deliver Pre-Trade Risk Management at Top 10 Hedge Fund

Desktop integration specialist Glue42 has partnered with Deephaven Data Labs, a next-generation data platform, to build a unified portfolio management platform for a top 10 global hedge fund, delivering a pre-trade risk and regulatory compliance module as an initial use case. The hedge fund had four specific goals in mind, says Reena Raichura, Head of...

EVENT

Data Management Summit USA Virtual

Now in its 11th year, the Data Management Summit USA Virtual explores the shift to the new world where data is redefining the operating model and firms are seeking to unlock value via data transformation projects for enterprise gain and competitive edge.

GUIDE

Trading Regulations Handbook 2021

In these unprecedented times, a carefully crafted trading infrastructure is crucial for capital markets participants. Yet, the impact of trading regulations on infrastructure can be difficult to manage. The Trading Regulations Handbook 2021 can help. It provides all the essentials you need to know about regulations impacting trading operations, data and technology. A-Team Group’s Trading...