Consolidated Audit Trail (CAT) - Regulatory Reporting
As per SEC Rule 613, broker-dealers conducting business in the US equity and options markets will be required to report order life cycles for equities and options markets on a daily basis, including orders, quotes, cancels, routes (plus internal routes), and allocations to FINRA.
Implementing a robust CAT solution poses many challenges, including the increased complexity compared to its predecessor report (OATS), expanded volumes and a likelihood that future regulatory requirements will be layered upon this framework.
The TeraHelix platform significantly accelerates the validation and/or implementation of a broker-dealer CAT reporting solution by leveraging a number of advanced data management features:
Load data from exiting trading platforms using intuitive visual data flow tools.
Automated data quality metrics, validations and exception reporting.
Apply manual adjustments in a fully audited and explainable manner.
Open and transparent data access at every stage of the reporting flow to enable QA and data science users to inspect and verify the integrity the reports.
Load submission feedback from FIRNA automatically link these back to the original source records.
Status at glance and reporting entry point.
Regulatory reporting SLA timelines.
Exception and manual adjustment summaries.
Reporting at a glance - slicing, dicing, filtering and sorting.
Integrated regulatory data model documentation.
Data and calculation trace-back.
Apply manual adjustments to submitted orders.
Bi-Temporal storage of all adjustments - full audit trail retained.
Highlighting of manually adjust elements in final report.
Data Science Tool Integration
Enable further analysis by QA and data science users.
One-click integration with Python, Spark and R notebooks.
Third-party API support, including JDBC, ODBC and REST.
Review reporting summaries over time.
Custom or TeraHelix provided user dashboards.
Insights by Combining Data
Combine CAT data with other data sets.
Extension mechanism to integrate addition data formats.