LiquidityBook unveils new reporting solution
12 November 2020 US
Image: Juli M./Adobe Stock
LiquidityBook, a software-as-a-service (SaaS)-based provider of buy- and sell-side trading solutions, has launched a new consolidated audit trail (CAT) reporting solution.
The new functionality will help broker-dealers transition from order audit trail system (OATS) reporting to CAT reporting.
The phased rollout of the new reporting regime started earlier this year, and Phase 2a – in which large industry members and small OATS reporters alike must begin reporting firm-to-firm linkage validations and equity exchange and TRF linkage validations – began on 26 October.
According to the SaaS provider, the solution will be particularly impactful for firms that do not use an OMS and whose EMS providers do not support CAT reporting.
Sean Sullivan, chief revenue officer at LiquidityBook, commented: “Given that the CAT has had an enormous effect on how trading firms handle their customer data, we saw a large amount of interest from firms whose existing OMS and/or EMS provider could not provide the reporting capability for one reason or another, leaving firms with a very clear business risk to their organisation – perhaps rendering it inoperable.”
Sullivan added: “Our team has built a solution that will help the industry navigate this shifting regulatory landscape. We are pleased to be able to fill the void and offer CAT reporting to players who were underserved by their previous systems as well as our existing clients.”
The new functionality will help broker-dealers transition from order audit trail system (OATS) reporting to CAT reporting.
The phased rollout of the new reporting regime started earlier this year, and Phase 2a – in which large industry members and small OATS reporters alike must begin reporting firm-to-firm linkage validations and equity exchange and TRF linkage validations – began on 26 October.
According to the SaaS provider, the solution will be particularly impactful for firms that do not use an OMS and whose EMS providers do not support CAT reporting.
Sean Sullivan, chief revenue officer at LiquidityBook, commented: “Given that the CAT has had an enormous effect on how trading firms handle their customer data, we saw a large amount of interest from firms whose existing OMS and/or EMS provider could not provide the reporting capability for one reason or another, leaving firms with a very clear business risk to their organisation – perhaps rendering it inoperable.”
Sullivan added: “Our team has built a solution that will help the industry navigate this shifting regulatory landscape. We are pleased to be able to fill the void and offer CAT reporting to players who were underserved by their previous systems as well as our existing clients.”
← Previous industry article
Apex launches LRI Middle East to offer ManCo services to Abu Dhabi clients
Apex launches LRI Middle East to offer ManCo services to Abu Dhabi clients
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
