NEW YORK, Nov. 18, 2019 /PRNewswire/ -- Itiviti, a
leading technology and service provider to financial institutions
worldwide, today announced a partnership with Capital Market
Solutions LLC. (CMS), a capital markets consultancy and solutions
provider based in New York City.
Under the partnership, Itiviti provides a complete regulatory
reporting solution for the Securities and Exchange Commission (SEC)
Rule 613 Consolidated Audit Trail (CAT), based on CMS' Regulatory
Surveillance & Monitoring System (RSMS).
Available through Itiviti's global organization, the new
regulatory solution provides firms with comprehensive surveillance
capabilities for visibility and oversight of trading practices as
mandated by Rule 613. CMS will conduct independent validation of
customers' CAT reporting. While fundamentally a platform-agnostic
solution, it offers seamless integration with Itiviti's leading
connectivity and trading solutions portfolio.
"Working with CMS and including their regulatory reporting
expertise, we are proud to offer an efficient, easily managed CAT
solution which features clean reporting and consistent processes,"
said Linda Middleditch, EVP, Head of
Product Strategy. Itiviti. "The recent initiatives by the SEC has
made the CAT implementation a pressing issue for market
participants, and our partnership with CMS helps customers get on
track to compliance in a timely and cost-efficient manner."
SEC Rule 613 requires broker-dealers to report all transactions
conducted in the US equities and listed options markets to a
Consolidated Audit Trail database, enabling cross-market
surveillance and reconstruction of market events to identify
potential violations of SEC regulations. After
significant delays, the SEC has taken a significant step by issuing
a schedule for CAT implementation, with the deadline for the
first phase now set to April 20,
2020.
"Combining an unmatched market presence with its trading and
regulatory experience, Itiviti is the ideal partner for marketing,
integrating and supporting our regulatory solutions globally," said
Satish S. Mujumdar, Partner, Capital
Market Solutions. "Providing a one-stop shop for all regulatory and
compliance related inquiries becomes an increasingly attractive
proposition as firms are facing a growing regulatory burden.
Together with Itiviti, we will deliver on this vision while adding
real value to our mutual customers."
The CAT solution introduced by Itiviti and CMS goes beyond the
baseline requirements for SEC compliance by offering unique,
value-add features. These include:
- Consolidation of multiple trading systems and ability to
surveil into a single platform with uniform look, feel and
usability, also facilitating unified maintenance of Firm designated
identifier (FDID).
- Workflow management and exception management integrated with
Case Management.
- Perform data integrity validation checks and take corrective
actions, prior to submitting CAT report to FINRA.
- A fully featured dashboard to enable compliance officers and
senior management to monitor and manage exceptions.
- A powerful trend analysis tool providing visibility into
historical performance as well as insight to the firm's overall
compliance status.
- Daily trading transactions linked to regulatory submissions,
storing this information for immediate retrieval upon internal or
external inquiry.
- Cost-efficient and flexible storage of millions of regulatory
records, cloud based or on-premises.
All market participants with any activity in the United States are subject to Rule
613. This includes all firms currently providing Order
Audit Trail System (OATS) reporting as required by the US Financial
Industry Regulatory Authority (FINRA) and used to record
information relating to orders, quotes and other related trade data
from all equities traded on NMS.
For further information, please contact:
Itiviti
Linda Middleditch
EVP
Head of Product Strategy
Itiviti Group
Tel +44-796-82-126 -24
Email: linda.middleditch@itiviti.com
Christine Blinke
EVP
Head of Marketing & Communications
Itiviti Group
Tel. +46-739-01-02-01
Email: christine.blinke@itiviti.com
Capital Market Solutions
Satish S. Mujumdar
Partner, Capital Market Solutions
Tel. +1-201-424-2081
Email: satish@capmarketsolutions.com
Joseph Chafatinos
Partner, Capital Market Solutions
Tel. +1-732-675-8912
Email: joe@capmarketsolutions.com
About Capital Market Solutions Inc.
Capital Market Solutions provides consultancy and advisory
services to financial services companies with an emphasis on
Capital Markets. We provide solutions for Investment Banks,
Exchanges, Broker-Dealers, Hedge Funds, Asset Managers, Trading and
Clearing Firms. Our expertise is in maximizing opportunities and
revenues for our clients using proven Technology Cost Containment
and Operational Risk Assessment methodologies while providing
un-biased technology solutions. Capital Market Solutions leverages
the expertise of "executive level technologists" from the leading
technology vendors.
For more information, please visit
www.capmarketsolutions.com
About Itiviti
Itiviti enables financial institutions worldwide to transform
their trading and capture tomorrow. With innovative technology,
deep expertise and a dedication to service, we help customers seize
market opportunities and guide them through regulatory change.
Top-tier banks, brokers, trading firms and institutional
investors rely on Itiviti's solutions to service their clients,
connect to markets, trade smarter in all asset classes by
consolidating trading platforms and leverage automation to move
faster.
A global technology and service provider, we offer the most
innovative, consistent and reliable connectivity and trading
solutions available.
With presence in all major financial centers and serving around
2,000 customers in over 50 countries, Itiviti delivers on a global
scale.
For more information, please visit www.itiviti.com.
Itiviti is owned by Nordic Capital.
Follow Itiviti on social media on Twitter@Itiviti_AB, on
Facebook @ItivitiAB, and on LinkedIn
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Press release in PDF
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Linda
Middleditch
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