Regulatory and Surveillance Management System (RSMS)

Regulatory and Surveillance Management System (RSMS)

RSMS is a surveillance and monitoring system, which ensures that the firm has adequate surveillance capabilities for visibility and oversight of their Trading practices.

The catalyst for the launch of RSMS is the proposed introduction of the new Consolidated Audit Trail (CAT) by the Securities and Exchange Commission (SEC). RSMS provides a framework and also a complete solution for firms to comply with Trading rules and regulations by tracking life-cycle of order, when and where transactions occur, the brokers who handle them, and the customers they represent as the proposal mandates.

RSMS is a “one stop shop” for any regulatory and compliance related inquiries, including queries from TAMS examiners. RSMS captures each order event, routes, executions, trade bust, OATS ROEs and market-data and ties it together, independent of your trading system, and performs regulatory surveillance checks. RSMS establishes a full life cycle of an order (like the regulators do) to fulfill regulatory investigation requirements. Users don’t have to switch from one system to another system during the trouble-shooting or investigation.

Combined with data retention and retrieval capabilities, RSMS truly offers a complete compliance solution, in addition to eliminating internal/external costs for maintaining and storing the Trading and Regulatory reported data.

    Key features, functions and benefits of RSMS:
  • RSMS can consolidate multiple systems into one platform that has uniform look, feel and usability.
  • RSMS gives visibility into OATS rejects and resolution of those rejects for Compliance group as well as for the mgmt. along with Case management (documentation).
  • RSMS provides pattern and history of exceptions for past months to understand what is happening and why.
  • RSMS will store and maintain all Trading transactions (Orders, Trades, Routes, Order history) along with Regulatory submissions such as OATS and ACT for the period of 3 years.
  • Through the RSMS user interface (UI), the end-user will be able to perform queries, extract, print and download Trading data.
  • RSMS links daily trading transactions and stores this information as per firm’s Regulatory submissions. So when a firm receives any internal or external inquiry, the firm will exactly know what trading data was submitted to the regulatory authorities.
  • RSMS stores these millions of records in the most cost effective and flexible way. This service is available using RSMS’s Cloud or Firm’s in-house facility.