OATS functionality for front-to-back data integrity and control

FINRA established the Order Audit Trail System (OATS), as an integrated audit trail of order, quote, and trade information for all NMS stocks and OTC equity securities. FINRA uses this audit trail system to recreate events in the life-cycle of orders and more completely monitor the trading practices of member firms. Under FINRA Rules 7410 - 7470, FINRA member firms are required to develop a means for electronically capturing and reporting to OATS specific data elements related to the handling or execution of orders, including recording all times of these events in hours, minutes, and seconds, and to synchronize their business clocks.

There is a huge amount of data, often in multiple formats, that needs to be validated and then reported accurately. Gresham's Clareti Transaction Control (CTC) is a flexible control framework that can  monitor real-time trade data alongside the OATS reporting process.

CTC provides a user friendly UI which generates independent Reported Order Events from golden source files - Order and Order Event.  CTC tracks and stores an audit trail of all user initiated amendments, with user comments persisting.  High performant Data Transformation logic is available to normalize all source files to validate and verify all appropriate fields are present in the required FINRA formats.

Exceptions are highlighted for user review utilizing a standardized exception management workflow process.  Reporting and Analytics are also provided to create MIS reports for review by Business, Compliance and Operations stakeholders.

Want to know more about how CTC can help you to fulfil your FINRA obligations year after year?

FINRA Gresham Guide

FINRA Gresham Guide

Data integrity and governance for FINRA registered broker-dealers

Clareti Transaction Control

A new breed of technology